GoNoGo Charts is a "Go" on ABEV with momentum and volume
Friday’s price has pushed ABEV above the highs of the consolidation range that we have seen since the lows of March.
The GoNoGo Trend Indicator is a strong “Go” and has been for a few bars. Initially the trend was flagged a “Go” but as it fought with resistance struggled to paint the brightest blue. It is a good sign to see the trend strengthening.
In the lower panel, the GoNoGo Oscillator has broken above zero and found support there, with renewed positive momentum as the price trend has strengthened.
It is also encouraging to see that the GoNoGo Oscillator has been dark blue during this recent price action, indicating that there is strong volume associated with it.
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