$DAL is in a “Go” trend having found support.
$DAL has been in a “Go” trend and made a series of higher highs and higher lows since first entering the trend early April. At the last higher high, we saw a Go Countertrend Correction Icon (red arrow) suggesting that price may struggle to go higher in the short term. Indeed, we saw a series of weaker aqua bars that led to a lone “NoGo” bar as price fell from the high. During this time, GoNoGo Oscillator fell through the zero line into negative territory. Price found support at prior highs, and GoNoGo Oscillator has since recovered positive territory as price rallied. Now, having quickly retested the zero line, the oscillator has bounced back into positive territory and we see a Go Trend Continuation Icon (green circle). With momentum therefore resurgent in the direction of the “Go” trend, we will watch to see if this gives price the boost it needs to challenge the prior high we see on the chart.
