$AMZN has been in a “Go” trend since early September.
After hitting a high later that same month on strong blue “Go” bars we saw price fall away and GoNoGo Trend paint a string of weaker aqua bars. GoNoGo Oscillator fell to test the zero line from above where it became important to look for support. Although the oscillator fell into negative territory, it quickly regained the zero level where it remained for some time, allowing the climbing grid of GoNoGo Squeeze to build. After some time of moving sideways, price has now rallied and is testing horizontal resistance as GoNoGo Oscillator rallies into positive territory. With momentum resurgent in the direction of the “Go” trend, we will look to see if this gives price the push it needs to set a new higher high.
