$FOXA has been in a “Go” trend since March of this year.
It has made an impressive series of higher highs and higher lows and price has climbed to over $47. After the last higher high in mid November, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we have seen price move mostly sideways since then, with GoNoGo Trend painting a mix of bright blue and weaker aqua “Go” bars. GoNoGo Oscillator fell to test the zero line from above as it has several times in this trend, and we saw a Max GoNoGo Squeeze build. This reflects the virtual tug of war between buyers and sellers at these price levels. Importantly, the Max GoNoGo Squeeze was broken into positive territory. This tells us that momentum is resurgent in the direction of the underlying “Go” trend and we will look to see if this gives price the push it needs to set new highs in the coming days and weeks.
