$CAH has been in a “Go” trend since March.
We have seen price make a series of higher highs and higher lows since then. Also, during that time, GoNoGo Oscillator has been primarily above the zero line, finding support each time it tests that level. This tells us that momentum has in general been confirming the price trend. After a higher high mid May, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we have seen price move mostly sideways since then and GoNoGo Trend has sprinkled in several weaker aqua bars. However, each time GoNoGo Oscillator has tested the zero line it has found it to be support. Most recently, the oscillator bounced sharply off the zero line back into positive territory and this gives us a Go Trend Continuation Icon (green circle) under the price bar. With GoNoGo Trend also painting a new strong blue bar, we see price breaking above horizontal resistance. We will look for price to consolidate at these new higher levels in the coming days and find support at the level that was resistance.
