$NWS burst into a “Go” trend at the end of October.
After racing to a high in November, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. As price fell from this high, GoNoGo Trend painted more weaker aqua bars. This waning momentum led to GoNoGo Oscillator falling to test the zero line from above where it has found support multiple times. Most recently, as price has stabilized and started to climb again, we see GoNoGo Trend reflected returning trend strength with bright blue “Go” bars. With the oscillator rallying off the zero line back into positive territory as price breaks above horizontal resistance, we know that momentum is resurgent in the direction of the underlying “Go” trend and we will watch to see if price can climb further from here. We could see support going forward at the level of the prior high.
