Looking through the charts this morning, we see $NBHC in a max GoNoGo Squeeze while in a “NoGo” trend.
It seems as I scan the charts, this is the case for several bank stocks. We would expect all else being equal for these to resolve to the downside. GoNoGo Trend is in place as the “NoGo” is painting pink bars and GoNoGo Oscillator is riding the zero line. This tells us that there is little directional momentum. We will look for a break out of the GoNoGo Squeeze. If it breaks lower, that will tell us that momentum has returned in the direction of the “NoGo” and we would expect a new move lower in price. A break out of GoNoGo Squeeze into positive territory would be a threat to the “NoGo” trend.
