$GM, General Motors, has seen the emergence of a new “Go” trend.
After being in a strong “NoGo” trend for most of this year that saw price fall in a series of lower highs and lower lows, we see the GoNoGo Trend indicator paint “Go” bars. After GoNoGo Oscillator broke above the zero line on July 18th, GoNoGo Trend painted a couple of amber “Go Fish” bars that were followed by aqua “Go” bars showing the changing technical environment. Now, GoNoGo Trend is painting a strong blue “Go” bar as the trend strengthens. GoNoGo Oscillator is in positive territory but not overbought. We can look for price to challenge prior highs around $39.
