$MTB rallied out of a “NoGo” correction earlier this month.
After several amber “Go Fish” bars of uncertainty, we saw GoNoGo Trend paint aqua “Go” bars. Having failed at overhead resistance once, we saw that GoNoGo Oscillator fell to test the zero line where it quickly found support on heavy volume. This has triggered a Go Trend Continuation Icon (green circle) telling us that momentum is resurgent in the direction of the “Go” trend. We will watch to see if this momentum boost will give price the push it needs to climb above the horizontal resistance we see on the chart. If it does, we will look for price to challenge the highs of over $237 from February of this year.
