The chart above is a GoNoGo weekly chart of Coca-Cola. This long term chart shows how the beverage maker has rallied from the extreme low in March only to be turned away by resistance around $50 several times.
Currently, price is marching up to that level again and this time it has some bullish momentum with it. The GoNoGo Oscillator has not been turned away from the zero from below but instead has broken into positive territory.
The trend is still “NoGo” but perhaps this time price can break above resistance and if so, bring about a longterm change to a “Go” trend.
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)
Currently, price is marching up to that level again and this time it has some bullish momentum with it. The GoNoGo Oscillator has not been turned away from the zero from below but instead has broken into positive territory.
The trend is still “NoGo” but perhaps this time price can break above resistance and if so, bring about a longterm change to a “Go” trend.
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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.