$PYPL has been in a “Go” trend since early August.
Since then, we have seen higher highs and higher lows. However, at the most recent high at the end of August, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term as we saw momentum falling out of overbought territory. Indeed, GoNoGo Trend then painted a string of weaker aqua “Go” bars as GoNoGo oscillator fell to test the zero line from above. After a bit of a wobble, where it dipped into negative territory, it held the zero line allowing the climbing grid of GoNoGo Squeeze to begin to climb. As strength returned to the “Go” trend in the form of bright blue bars, GoNoGo Oscillator bounced back into positive territory. Now, with momentum resurgent in the direction of the “Go” trend, we will watch to see if this gives price the push it needs to set a new higher high.
