$GILD had been in a long “Go” trend.
In June of 2024, $GILD entered a “Go” trend and we saw a strong run of higher highs and higher lows as price ultimately climbed above $98. However, after that most recent higher high in November, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, after falling from the high, price has moved mostly sideways since and GoNoGo Trend has painted a majority of weaker aqua bars. Over the last few bars, GoNoGo Oscillator broke through the zero line into negative territory which informed us that momentum was now out of step with the “Go” trend. GoNoGo Trend painted an amber “Go Fish” bar of uncertainty before the indicator painted a new pink “NoGo” bar. With momentum now on the side of the new “NoGo”, we will watch to see if price falls further from here.
