$ALB has been moving sideways in a channel since the beginning of the year.
During that time, we saw price slip into a “NoGo” correction and GoNoGo Oscillator twice spend time below the zero line. Now, after a single amber “Go Fish” bar of uncertainty, GoNoGo Trend paints a fresh aqua “Go” bar. This comes as GoNoGo Oscillator breaks back into positive territory and on heavy volume. There is strong resistance at the top of the channel with price having failed to break to new highs a month ago. However, with momentum in line with the new “Go” trend, we will watch to see if this resurgence will give price the push it needs to once again challenge for new highs.
