$FITB has been in a “Go” trend since late November.
We have seen higher highs and higher lows pushing price to over $50. At that most recent high, we saw multiple Go Countertrend Correction Icons (red arrows) indicating that price may struggle to move higher in the short term due to waning momentum. Indeed, GoNoGo Trend then painted a few weaker aqua bars as price fell from that high. GoNoGo Oscillator fell to test the zero line as this was happening. We saw heavy volume as GoNoGo Oscillator rallied of the zero line back into positive territory triggering a Go Trend Continuation Icon (green circle), informing us that momentum remained in line with the underlying “Go” trend. At the same time, GoNoGo Trend began to paint strong blue “Go” bars again. With resurgent momentum in the direction of the trend, we will look to see if price can consolidate at this new level before perhaps climbing further.
