$AVGO Looks for New High in “Go” Trend

$AVGO entered a “Go” trend early in April.

Since then we have seen price race to a new high of almost $430.  After that high, a Go Countertrend Correction Icon (red arrow) indicated that price may struggle to go higher in the short term due to waning momentum and GoNoGo Trend immediately painted weaker aqua bars as price fell.  GoNoGo Oscillator fell to test the zero line from above and after a couple of bars found support at that level.  With a bounce back into positive territory, we know that momentum is resurgent in the direction of the “Go” trend and we see a Go Trend Continuation Icon (green circle).  With GoNoGo Trend again painting strong blue bars, we see price is mounting an attack on the prior high.  With the clear boost in positive momentum, we will watch to see if this helps price climb above resistance to a new high in the coming days.