GoNoGo Charts shows Sothwestern Energy falling out of trend
Southwestern Energy has fallen out of its “Go” trend on a daily chart.
The GoNoGo Trend indicator is painting amber bars as it falls below an upward sloping trend line.
At the same time, the GoNoGo Oscillator shows momentum breaking below zero with heavy volume (dark blue for the oscillator line), confirming the change in trend in price.
If this continues we will likely see “NoGo” bars painted soon.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from bright blue (strongly bullish) to dark purple (strongly bearish)
The GoNoGo Oscillator blends traditional momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely oversold) to +6 (extremely overbought)
The GoNoGo Trend indicator is painting amber bars as it falls below an upward sloping trend line.
At the same time, the GoNoGo Oscillator shows momentum breaking below zero with heavy volume (dark blue for the oscillator line), confirming the change in trend in price.
If this continues we will likely see “NoGo” bars painted soon.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from bright blue (strongly bullish) to dark purple (strongly bearish)
The GoNoGo Oscillator blends traditional momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely oversold) to +6 (extremely overbought)
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