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 support at zero, and breaks down into negative territory this could lead to a change in trend above.
Perhaps, if an investor is looking to take profits, a look at the shorter term chart can be valuable. The 4hr chart on the right shows that in the shorter time frame the GoNoGo Trend has already detected a change to a “NoGo” trend. This came a few bars after the GoNoGo Oscillator was unable to hold the zero line.
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 support at zero, and breaks down into negative territory this could lead to a change in trend above.
Perhaps, if an investor is looking to take profits, a look at the shorter term chart can be valuable. The 4hr chart on the right shows that in the shorter time frame the GoNoGo Trend has already detected a change to a “NoGo” trend. This came a few bars after the GoNoGo Oscillator was unable to hold the zero line.
