$IVZ re-entered a “Go” trend last week as price tried to break above resistance.
This happened as GoNoGo Oscillator managed to regain positive territory. After what looked like it might be a false breakout, price fell below the horizontal line we see on the chart and GoNoGo Oscillator fell back to test the zero line from above. It has quickly found support, racing back into positive territory and near overbought territory at a value of 4 as price soars higher, breaking through the overhead resistance and making a clearly higher high. This surge in momentum in the direction of the “Go” trend has triggered a Go Continuation Icon (green arrow) under the price bar, telling us that momentum is fully inline with the new “Go” trend. We will look for price to consolidate at these elevated levels this week before potentially moving higher still.
