GoNoGo Trend has identified a new “NoGo” trend for $GOOGL.
GoNoGo Oscillator first gave investors cause for concern when it failed to find support at the zero line late June. Since then it has found that level to be resistance several times. Each time momentum moved back into negative territory we knew that was against the “Go” trend that was in place. Over that period, GoNoGo Trend showed weakness by painting many weaker aqua bars and eventually we saw a few amber “Go Fish” bars representing uncertainty. Finally, GoNoGo Trend identified a “NoGo” trend as price tests support from a prior gap. We will watch to see if price moves lower from here.
