Allison Transmission Holdings has broken out of an extended GoNoGo Squeeze to the upside.
After having moved against the “Go” trend after a high in mid January, the GoNoGo Oscillator fell to the zero line as volume lessened. As GoNoGo Oscillator stayed at zero, the climbing grid of the GoNoGo Squeeze rose to its extreme and stayed there. Currently, price is painting a strong blue “Go” bar and GoNoGo Squeeze has been broken as GoNoGo Oscillator moves into positive territory. Look for price to test that prior high as we now know momentum has returned in the direction of the “Go” trend.
By
Alex Cole
