$IQV has been in a “Go” trend since mid July.
After hitting a new higher high at the beginning of August, price fell from that high and GoNoGo Trend painted a string of weaker aqua bars. During this time, GoNoGo Oscillator fell to test the zero level from above and it remained there for several bars. This showed that there was a tug of war between buyers and sellers at these prices and a stalemate in the directional battle. We saw a Max GoNoGo Squeeze build and as price started to rally and GoNoGo Trend was able to paint stronger blue bars we watched for the break of the GoNoGo Squeeze. The Squeeze has now been broken to the upside and we can say that momentum is resurgent in the direction of the underlying “Go” trend. We will look to see if price can challenge for new highs in upcoming days and weeks.
