$GEHC hit is lowest low of the recent “NoGo” trend in June.
Just after that, we saw momentum break above the zero line. This told us that the “NoGo” trend was in trouble. Since then, even as the “NoGo” remained in place, GoNoGo Oscillator stayed at or above the zero level. Indeed, after a few transitionary amber “Go Fish” bar, a new “Go” was identified. After an initial surge, we saw a Go Countertrend Correction Icon (red arrow) at the first new high, and that told us price may struggle to go higher in the short term. A string of weaker aqua “Go” bars followed and GoNoGo Oscillator fell to test the zero line from above. Importantly, it found support here. Now we can say that momentum is resurgent in the direction of the underlying “Go” trend. With the trend strengthening to paint bright blue bars, and a Go Trend Continuation Icon, we will look for price to make an attack at a new higher high.
