$NOC has been in a “Go” trend since July.
After some amber “Go Fish” bars at the transition between “NoGo” and “Go”, we have seen a steady climb in prices and mostly strong blue “Go” bars. This came after GoNoGo Oscillator finally broke into positive territory after struggling around that level for several weeks. We saw price burst higher on heavy volume after that and have seen higher highs and higher lows since. Most recently, after another higher high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. A series of weaker aqua bars has followed, and GoNoGo Oscillator fell quickly to test the zero line. It immediately found support at that level and bounced back into positive territory, informing us of resurgent momentum in the direction of the “Go” trend. We will watch to see if this gives price the push it needs to climb to another new high.
