$VRSN Flags new “Go” After Change in Momentum

$VRSN Flags new “Go” After Change in Momentum

7

June 2024

By

Alex Cole

$VRSN was in a destructive “NoGo” trend since the end of 2023.

Now, after months of purple and pink “NoGo” bars, we see a changing technical environment.  After falling to a lowest low in early May, we saw prices stabilize and GoNoGo Oscillator rose to challenge the zero level from below. With price now making a slightly higher low later in the same month, GoNoGo Oscillator broke through into positive territory.  This told us that momentum was now out of step with the “NoGo” trend. Going forward, GoNoGo Oscillator found support at zero and this buying pressure helped move prices higher until GoNoGo Trend painted a couple of amber “Go Fish” bars, showing the market uncertainty surrounding the previous “NoGo” trend.  Now, we see a new “Go” bar and the change is complete.  With the GoNoGo Oscillator in positive territory, we know that momentum is confirming the new “Go” trend and we will look for prices to move higher.

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