$CFG has been in a “Go” trend since early June.
Since then we have seen a series of higher highs and higher lows that has pushed price over $74. Now, we see that there is overhead resistance from prior highs that the bank is struggling with. While we see price has bumped up several times against horizontal resistance, we see that price continues to make higher lows, indicating buyers overwhelming sellers after each pullback. If we look at the oscillator panel, we see that GoNoGo Oscillator has found support at the zero line each time it has been tested which has lent support to the price trend. With several Go Trend Continuation Icons (green circles), we know that momentum has remained in the direction of the “Go” trend and is once again rallying into positive territory. We will watch to see if this boost in momentum is enough to push price to new higher highs in the coming days.
