$PNR has entered a new “Go” trend.
This comes as price failed to set a new lower low after falling to an ultimate low at the beginning of June. A period of uncertainty was reflected by a string of amber “Go Fish” bars and GoNoGo Oscillator was able to break back above the zero line into positive territory. This told us that momentum was out of step with the “NoGo” trend. Now, with momentum again finding support at the zero line, we see GoNoGo Trend painting first an aqua and then a bright blue bar. With momentum therefore resurgent in the direction of the new trend, we will look to see if price can break above the horizontal resistance we see on the chart and climb to a new high in the coming days.
