$NVDA has seen a strong “Go” move that started about a month ago.
Accompanied by strong volume, price surged to new highs. The last week has seen price pull back against the “Go” trend and this has caused GoNoGo Oscillator to fall to test the zero line from above. As volume shrinks, we will watch to see if GoNoGo Oscillator can hold the zero line and find support at that level. If it cannot hold, and drops into negative territory that would be a threat to the “Go” trend. If however it does find support, rallying back into positive territory we will be able to state that momentum is resurgent in the direction of the “Go” trend and can look for price to make an attempt at a new high.
