$GM has been in a “Go” trend since the end of November last year.
After gapping higher at the end of January, we saw a Go Countertrend Correction Icon (red arrow) that indicated we would struggle to go higher in the short term. Indeed, we moved sideways since then. GoNoGo Oscillator fell to test the zero line from above and we have seen that it has found support at that level. Now, with GoNoGo Oscillator rallying back into positive territory, GoNoGo Trend is painting bright blue “Go” bars as we push up agains resistance from prior high. We will watch to see if price has the push it needs to move to a new higher high given that momentum is now resurgent in the direction of the trend.
