Since early November, $ATO has been in a “Go” trend.
After rallying quickly to the end of the month, we saw momentum cool as GoNoGo triggered a Go Countertrend Correction Icon (red arrow) indicated that price may struggle to go higher in the short term. Since then, price has moved primarily sideways in a channel and we have seen GoNoGo Oscillator fall to the zero line. It has remained at this level causing the grid of the GoNoGo Squeeze to climb to its max. We will watch to see in which direction the Squeeze is broken to determine price’s next direction.
