MRO looks to be breaking out of a GoNoGo Squeeze to the upside while in a “Go” trend. After a period of reduced volatility that caused the GoNoGo Oscillator to ride the zero line for some time, buyers appear to have returned driving momentum positive. If price can consolidate above $7.50 look for a new high to be made.
After a 500% run since the last “Go” flag mid October, price has come back from the highs near $60. The GoNoGo trend has reflected this with paler aqua bars. Price is now at levels where we saw a clustering of market activity in November and December. We will look to see if this level provides support. The GoNo Oscillator is currently riding the zero line and...
Pivotal moment for GE as we see the GoNoGo Oscillator on the daily chart riding the zero line now for some time now as highlighted by the climbing grid of the GoNoGo Squeeze. We will watch to see if there is support here and if the oscillator can break out of the squeeze into positive territory which would be bullish for price. If the oscillator is unable to find...
Important moment for the dollar. Having fallen so far, we have been watching to see what will happen as the GoNoGo Oscillator ran up to the zero-line from below. A break above zero would indicate weakness in the “NoGo” trend and perhaps slight cause to be bullish. Rejection at the zero line however would signal that the “NoGo” trend is still firmly in place. ...
Tesla stock has rallied strongly since the new “Go” trend took hold over a month ago. Today is the first day of trading with $TSLA as part of the S&P 500. Prior to its inclusion excitement pushed price to close at $695 on Friday. As we can see on the GoNoGo Chart volume has been heavy during the entirety of this run (dark blue oscillator) but on Friday volume...
Bitcoin is really trying hard to break out above overhead supply! We see another green low risk re-entry signal on the daily GoNoGo Chart for the prior bar. This shows that there is some bullish momentum behind the most recent move causing the GoNoGo Oscillator to rally off zero while in a “Go” trend. The GoNoGo Trend is also painting the strongest blue bars as...
This is an interesting set up for Fuel Cell Energy. The trend is a “Go”, but we are struggling to match the recent high of the move. The top of the gap from the 2nd of December recently acted as resistance and so that will need to be cleared for there to be a rally back to $11. The GoNoGo Oscillator is riding the zero line causing the climbing grid of GoNoGo...
A nice set up here on the 4hr GoNoGo Chart of Palantir Tech. A strong “Go” trend has been in place since the beginning of November at a price just over $10. Having run all the way up to over $33, we have seen a pullback against the trend. This has shown some weakness with the “Go” bars painting the paler aqua color. Concurrently, the GoNoGo Oscillator has fell...
In our Monday morning Flight Path newsletter, we high-lighted General Electric as a company that may perform strongly into the end of the year as the rotation in equities continues into sectors such as Industrials. This week saw price dip but end the week strongly with another bright blue “Go” bar. The GoNoGo Oscillator has also managed to stay nicely in...
We've seen Tesla race to new highs in the last few weeks after moving sideways before that. This chart is a weekly chart of Apple, and shows that it has yet to follow suit. However, it does seem to be trying to break out of the consolidation it has been in. The GoNoGo Trend is a solid "Go" and the GoNoGo Oscillator so far has been able to find support at the...
Articles abound with stories of Bitcoin target projections of over 300,000. Projecting so far out is an interesting intellectual exercise. But, let's look at a long term chart of Bitcoin using monthly data. If this is an ascending triangle with an upside breakout, and if price can get above the all time high that is the high of the pattern, then a projected...
Happy Thanksgiving extra idea! A lot of discussion surrounding the electric vehicle market is whether TSLA can hold on to its market share. Fisker, is a brand that is trying to eat into that EV pie. Here is a classic bull flag as represented by the GoNoGo chart. A "Go" trend is established, and we then saw a red short term counter trend correction arrow that...
In our Flight Path newsletter this week pre market on Monday morning, we highlighted Bitcoin among other assets as they approached multi year highs. Bitcoin has continued to test those highs in the last few days extending a run that has seen the cryptocurrency rally from under $11000 at the last “Go” flag to over $19000 as we speak. Happy Thanksgiving everyone!
We looked at ACB a little while ago and noted that after a sharp rise, it was trying to find support at the breakaway gap from the 6th of November. It has since consolidated within the bounds of that gap which could now be support and resistance as we go forward. We have been waiting for momentum to show its hand as the GoNoGo Oscillator was riding the zero...
On Monday in our Flight Path newsletter we highlighted Goldman Sachs. We see outperformance in the financial sector as the market rotates into new leadership. We mentioned that price has consolidated sideways in a range since the crash from the pandemic. While a new “Go” flag had been displayed on November 9th we discussed that there was strong overhead...
After another strong rally, we see a red counter trend correction arrow above price. This indicates a cooling of positive momentum and suggest that price may struggle to make new gains in the short term. This has happened over and over again during this incredible run. With the “Go” trend solidly in place we have seen the low risk entries (Green circles) at the...
Last week flagged a “Go” trend for the first time since the crash in March on GE. We can also see that current price action has moved above the resistance set by the runaway gap. The GoNoGo Oscillator led this change in trend by breaking above the zero line several bars ago and rallying into positive territory on heavy volume.
After the huge gap up on Friday, GoNoGo Charts signaled a red short term correction arrow at the end of Monday, suggesting that we may pull back for a few bars. We have now seen that pull back as the GoNoGo Trend paints weaker aqua bars, but the “Go” trend remains in place. It is very bullish that while staying in the “Go” trend, price has found support at the...