Since hitting highs at the tail end of ’23, $CCL has suffered a deep correction.
GoNoGo Trend outlined a “NoGo” as price made a series of lower highs and lower lows into February and March. Rallying from the most recent low in late February, we saw GoNoGo Oscillator rise to test the zero line from below as the trend weakened painting a majority of weaker pink bars. After the Oscillator broke through the zero line on heavy volume, price moved mostly sideways and we saw GoNoGo Trend paint some amber “Go Fish” bars representing uncertainty. During this period, GoNoGo Oscillator was able to find support at the zero line each time it tested it from above and this positive momentum led to GoNoGo Trend be able to paint a few weak “Go” aqua bars. Now, with support found once more at the zero line, GoNoGo Oscillator is moving back into positive territory as GoNoGo Trend paints a first strong blue bar. This resurgent momentum in the direction of the new “Go” trend suggests trend continuation and we will look for price to go higher from here.
