$CONN looks for support in new “Go” trend

$CONN looks for support in new “Go” trend


November 2022


Alex Cole

$CONN has rallied from the October lows and entered a "Go" trend painting strong blue bars.

This is in the face of a larger time frame "NoGo" trend from the weekly chart. Previously, attempts at "Go" trends turned out to be relief rallies and so we will watch the GoNoGo Oscillator this time as it looks for support at the zero line.  If it can find support, and move back into positive territory then we can say that momentum is returning in the direction of the "Go" trend and expect price to move higher.  If the zero line doesn't hold, this will be a concern and suggest the new "Go" trend is not healthy.