GoNoGo Charts are painting a *bearish picture for AMD. Trading the highs and lows of the *rectangle that the stock has been in would have served you well over the last couple of months.
This time though, with price trading down to the lows of the consolidation, the GoNoGo Trend indicator is suggesting that the trend has changed to “NoGo”. This shift was noted on 6/24.
With that, the GoNoGo Oscillator sunk into negative territory for the first time marking a difference in the market sentiment associated with price.
It is less likely that support will hold this time, given the overall environment. It’s a “NoGo”
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)
This time though, with price trading down to the lows of the consolidation, the GoNoGo Trend indicator is suggesting that the trend has changed to “NoGo”. This shift was noted on 6/24.
With that, the GoNoGo Oscillator sunk into negative territory for the first time marking a difference in the market sentiment associated with price.
It is less likely that support will hold this time, given the overall environment. It’s a “NoGo”
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)