$AAL shows possibility of strong move in “Go” trend

$AAL shows possibility of strong move in “Go” trend


January 2023


Alex Cole

$AAL has pulled back after a rapid move higher in this new "Go" trend.

A Go Countertrend Correction Icon (red arrow) showed that the price move was unsustainably fast.  GoNoGo Trend has painted a couple of weaker aqua "Go" bars and GoNoGo Oscillator has fallen to test the zero line from above.  Price itself has fallen to a level that could be support at the top of gap from earlier this month.  We will look for consolidation and support at this level and watch GoNoGo Oscillator as it rides the zero line.  If it is able to break back into positive territory out of a GoNoGo Squeeze then we could say that momentum is resurgent in the direction of the "Go" trend.  Look for price to then move higher again and set a new high.