$WAB has been in a “Go” trend since the end of August.
Since that time we have seen a series of higher highs and higher lows as price has climbed over $200. However, at the last high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. GoNoGo Trend then painted weakness with aqua bars as price fell from the high toward the lower bound of the channel that you see on the chart. This support comes from prior highs and the gap earlier this month. The GoNoGo Oscillator panel during this period of weakness fell to test the zero line from above where it was held, allowing the climbing grid of GoNoGo Squeeze to hit its Max. With the oscillator breaking out of the Max GoNoGo Squeeze back into positive territory and GoNoGo Trend painting strong blue bars, we know that momentum is resurgent in the direction of the “Go” trend and will look for price to break above resistance to new highs.
