After a “Go” trend that has been able to stick around since October of last year, we see $MSFT enter a “NoGo”.
This comes after price hit a new higher high last month. Since that high, price moved mostly sideways and we saw weakness in the form of paler aqua “Go” bars. During that time, GoNoGo Oscillator fell to test the zero line from above, where we watched to see if it would find support. We know that in a healthy “Go” trend, the oscillator should remain at or above the zero level. On arriving at zero, it struggled to move away from that level, causing the climbing grid of GoNoGo Squeeze to climb to its Max. This helps us visualize the tug of war between buyers and sellers at these levels and it becomes important to pay attention to the direction of the Max GoNoGo Squeeze break. We saw the GoNoGo Squeeze broken by the oscillator moving into negative territory as GoNoGo Trend painted amber “Go Fish” bars of uncertainty. Now, with GoNoGo Trend having made up its mind, we see a “NoGo” bar as GoNoGo Oscillator falls further into negative territory. With momentum surging in the direction of the new “NoGo” trend, we will look for price to make an attempt at a new lower low.
