New trend for AAL?“Go” flag on American Airlines!
The current bar of GoNoGo Trend has painted a Go flag. If this holds for the day that would represent a trend change. However, be prepared for a pullback in the near time and look for a consolidation at this level for there to be a further rally.
This is because the GoNoGo Oscillator is overbought as the color changes above. Also, the change to a “Go” trend has pushed price above a level of resistance that we will need to see act now as support.
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)