$MET entered a new “Go” trend on 7/12/24.
This quick price move into a “Go” trend came a few bars after GoNoGo Oscillator broke out of a Max GoNoGo Squeeze into positive territory. In doing so, price broke above levels that we can see were resistance on the chart (horizontal line). After setting a new high on strong blue “Go” bars, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to move higher in the short term. Indeed, we saw price pull back and GoNoGo Trend paint weaker aqua bars. GoNoGo Oscillator fell to test the zero line from above. It was important for the new trend that the oscillator found support at that level. It did, and with momentum moving back into positive territory, we can say that it is resurgent in the direction of the “Go” trend. We will look to see if this gives price the push it needs to make a new higher high.
