$WELL has been in a “Go” trend since April.
We have seen a series of higher highs and higher lows. During that time, GoNoGo Oscillator has been primarily supported by the zero level as we’d expect in a strong trend. Most recently, we saw a Go Countertrend Correction Icon at the last high, indicating that price may struggle to go higher in the short term. Indeed, GoNoGo Trend then painted consecutive weaker aqua “Go” bars as price fell from that high. GoNoGo Oscillator found support yet again at the zero level and GoNoGo Trend now paints a strong blue “Go” bar. As GoNoGo Oscillator bounces back into positive territory we see a Go Trend Continuation Icon (green circle). With momentum resurgent in the direction of the “Go” trend, we will look to see if price can mount an attack on a new high.
