$After hitting highs late last year of $30, $NWSA has seen price struggle.
We saw a Go Countertrend Correction Icon (red arrow) at the high in November, and since then price failed to make a higher high. GoNoGo Trend painted a flurry of weaker aqua bars as price tried to hold at support from the previous gap. GoNoGo Oscillator then failed to remain above zero and after it crossed into negative territory a “NoGo” took hold. After a lower low mid January, GoNoGo Oscillator rose to test the zero line and we saw a Max GoNoGo Squeeze as there was a virtual tug of war between buyers and sellers at this level. When the oscillator broke the Squeeze into positive territory we knew that momentum was out of step with the “NoGo”. Now, as GoNoGo Trend paints a new “Go” bar, the oscillator has found support at zero, indicating resurgent momentum in the direction of the new trend. We will look for price to rise from here and challenge those November highs.
