$AXP has been in a “Go” trend since August.
We have seen a series of higher highs and higher lows as price has climbed to over $300. During that time GoNoGo Oscillator has been primarily at or above the zero line indicating that momentum has been confirming price in the direction of the trend. After the most recent higher high we saw a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to go higher in the short term due to waning momentum. Indeed, price has moved mostly sideways since then and GoNoGo Trend has painted a majority of weaker aqua bars. Most recently, GoNoGo Oscillator has found support again at the zero line and price has rallied toward the high of the range. With momentum resurgent in the direction of the “Go” trend we will watch to see if this gives price the push it needs to move to higher highs.
