$KDP was on of the few securities in the S&P 500 that entered a new “Go” trend yesterday.
Even as yesterday saw price tumble, GoNoGo Trend was able to paint a first aqua “Go” bar after months of a “NoGo” move. Looking for securities that are strong even as the larger market struggles can often uncover possibilities for the investor. Over a week ago, we saw GoNoGo Oscillator break above the zero line and into positive territory. This told us that momentum was out of step with the “NoGo” trend. We then paid close attention as GoNoGo Trend moved out of “NoGo” bars and painted a string of amber “Go Fish” bars. This color represents uncertainty and we knew then that there was a possibility for a new trend in the other direction. GoNoGo Trend has now painted an aqua “Go” bar as GoNoGo Oscillator is in positive territory. With momentum on the side of the new “Go” trend, we will watch to see if price can break above the overhead resistance we see on the chart.
