$CTLT has been in a “Go” trend since May.
We have seen a series of higher highs and higher lows as price has climbed steadily. During that time, GoNoGo Oscillator has remained at or above zero, often finding support at that level. After the most recent price high, we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher in the short term. Indeed, after price fell from that high we have seen it move mostly sideways and GoNoGo Trend has sprinkled in several weaker aqua bars. At the beginning of price’s meandering sideways, we saw GoNoGo Oscillator fall to the zero level where it remained. This reflects a tug of war between buyers and sellers at this level and very little directional momentum. We saw an extended Max GoNoGo Squeeze demonstrating this and we watched for the direction of the break. Now, with price painting strong blue bars again, GoNoGo Oscillator has broken out of the Max GoNoGo Squeeze into positive territory. This tells us that momentum is resurgent in the direction of the “Go” trend and we will look to see if this gives price the push it needs to set a new higher high.
