$RTX was in a strong “NoGo” trend until late October.
Then GoNoGo Trend recognized a change in trend. As price climbed from the lows, GoNoGo Oscillator rose to test the zero line and quickly broke through into positive territory. The trend indicator then identified a new “Go” trend which saw price run up to resistance from September’s gap. Apart from a brief foray into negative territory, GoNoGo Oscillator has mostly found support at the zero line since the, telling us that momentum remains in line with the “Go” trend. However, the last 4 bars have been painted an amber “Go Fish”, which reflects uncertainty surrounding the trend conditions. Not enough criteria are being met behind the scenes to paint either “Go” or “NoGo” colors. GoNoGo Oscillator is back again testing the zero line from above. It will need to find support here and rally back into positive territory if we are to have any confidence in the survival of the “Go” trend. If it does, we can look for price to make another run at resistance and potentially set a new higher high.
