$LEN had been in an extended “NoGo” trend since late February.
After making new lows in mid May, we saw price rally off the low and GoNoGo Trend cycled out of strong purple into pink “NoGo” bars and then we saw a majority of amber “Go Fish” bars representing market uncertainty surrounding the “NoGo” trend. During this period, GoNoGo Oscillator rose to challenge the zero line from below and was able to break above it. It has since found repeated support at that level. Now, GoNoGo Trend paints a first and strong “Go” bar, as GoNoGo Oscillator bounces off zero. We know now that momentum is in line with the new “Go” trend. We will watch to see if this gives price the boost it needs to climb to a new higher high in the coming days and weeks.
