$SYK entered a “Go” trend late last month.
Since then, it has hit a higher high which was accompanied by a Go Countertrend Correction Icon (red arrow). This told us that price may struggle to go higher in the short term and indeed we saw price pull back. GoNoGo Trend painted a few weaker bars as price fell into a congestion area that provided support. During that time, GoNoGo Oscillator fell to test the zero level from above and quickly found support at that level. Now, GoNoGo Oscillator is rallying back into positive territory and GoNoGo Trend is painting a fresh strong blue “Go” bar. With momentum resurgent in the direction of the “Go” trend, we see signs of trend continuation (green circle) and we will watch to see if price can continue on to a new high.
