$AAL has been in and out of a “Go” trend since November of last year.
In December, it hit a high and we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle in the short term. We then saw price fall from these highs and GoNoGo Trend painted a string of weaker aqua bars as price retreated. After another attempt to make a new high on strong blue “Go” bars, price failed again at a level that then became resistance on the chart. This time, as price pulled back, we saw GoNoGo Oscillator fail to find support at the zero line and GoNoGo Trend painted some amber “Go Fish” bars representing uncertainty. Price proved resilient however, and rallied once more to test the resistance we see on the chart. GoNoGo Oscillator burst through into positive territory on heavy volume and that looks to have given price the push it needs to climb above resistance to a new high. With momentum now resurgent in the direction of the “Go” trend we will look for price to consolidate at these levels.
