In December, we saw $PFG race to a high in its new “Go” trend.
At that high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, since that high we have seen price move mostly sideways with GoNoGo Trend sprinkling in several weaker aqua bars as the life insurance company repeatedly hit resistance at that prior high level. GoNoGo Oscillator fell to test the zero line after the December high and we see that if stayed primarily at or above the zero line during prices struggles to move higher. Now, with GoNoGo Trend painting a fresh, strong “Go” bar and GoNoGo Oscillator bouncing back into positive territory on heavy volume we see price climbing above horizontal resistance. With a Go Trend Continuation Icon (green circle) telling us that momentum is resurgent in the direction of the underlying “Go” trend, we will look for price to consolidate at these levels before potentially climbing higher.
