$COST fell into a “NoGo” trend toward the end of July.
This came after GoNoGo Oscillator failed to find support at the zero line during the last “Go” trend. Having seen momentum shift, we then saw GoNoGo Trend begin to paint “NoGo” colors as price fell to new lows. Recently, GoNoGo Oscillator has risen to test the zero level from below. It was quickly rejected, and we saw heavy volume return as the oscillator returned to negative territory. With price making a new low on strong purple bars, and momentum resurgent in the direction of the “NoGo” trend, we will look for further price deterioration over the next few days.
