$GEV has been in a “Go” trend since August.
We have seen a series of higher highs and higher lows as price has climbed to over $350. During that time, GoNoGo Oscillator remained at or above the zero line which told us that momentum was in line with the “Go” trend. Early in November we hit another higher high and we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term as we recognized waning momentum. Indeed, price has moved mostly sideways since then with GoNoGo Trend sprinkling in several weaker aqua bars and GoNoGo Oscillator fell to test the zero line again from above. After riding that level for some time, we saw GoNoGo Oscillator break out of a GoNoGo Squeeze back into positive territory as price threatens overhead resistance. With momentum now resurgent in the direction of the “Go” trend, we will look to see if this gives price the push it needs to climb to new higher highs in the coming days and weeks.
