CorePoint Lodging Inc ready to take out prior high?

CorePoint Lodging Inc ready to take out prior high?


August 2021


Alex Cole

Is CorePoint Lodging Inc ready to move higher?

We have seen price make a nice run as the GoNoGo Trend indicator has been in a "Go" trend painting blue and aqua bars.  Currently, the Trend indicator is painting the strongest blue bars.  During this "Go" trend, the GoNoGo Oscillator has found support at the zero line, providing several low risk entires in the form of the green Go Trend Continuation circles.  The price consolidation we have seen since mid July has caused the oscillator to fall to and ride the zero line, causing the grid of the GoNoGo Squeeze to rise to its extreme.  We know that in theory a break out of a squeeze can lead to significant price action so we will watch to see if the zero line can hold as support once again and the oscillator can break out of the Squeeze into positive territory.  If this happens, we will look for price to set a new high.