$JNJ has seen its “Go” trend return.
After a succession of amber “Go Fish” bars of uncertainty, we saw GoNoGo Trend paint strong blue bars again. This comes with rising lows as buyers come in to the trend aggressively. Price is now challenging overhead resistance from prior highs. If we look to the oscillator panel, we see that GoNoGo Oscillator has broken out of an extended Max GoNoGo Squeeze, breaking the deadlock between buyers and sellers at these levels. This has triggered a Go Trend Continuation Icon (green circle) and we know that momentum is once again resurgent in the direction of the “Go” trend. We will watch to see if this gives price the push it needs to consolidate above the resistance we see on the chart before potentially moving higher.
