$ADBE climbed out of a “NoGo” trend about a week ago.
After gapping higher, GoNoGo Trend painted a couple of amber “Go Fish” bars when GoNoGo Oscillator broke out of a GoNoGo Squeeze into positive territory on heavy volume. GoNoGo Trend then recognized the “Go” trend by painting a weaker aqua bar and then followed that with strong blue “Go” bars as the trend took hold. Now, as price runs up against the horizontal resistance you can see on the chart we see a Go Countertrend Correction Icon (red arrow) telling us that price may struggle in the short term. We will watch the oscillator now to make sure that it stays at or above the zero level. If momentum stays on the side of the “Go” trend, that may well give price the push it needs to attack new highs.
