$PRU was in a “Go” trend since late November of last year.
After hitting a high in December, price moved mostly sideways for the last few months. During that time, GoNoGo Trend painted several weaker aqua bars and GoNoGo Oscillator fell to the zero line. We saw a Max GoNoGo Squeeze, reflecting lack of directional pull during this time. We have also seen resistance develop on the chart from prior highs. Finally, GoNoGo Trend painted an amber “Go Fish” bar, indicating uncertainty. Immediately after however, GoNoGo Oscillator rallied sharply back into positive territory after finding support at zero and on heavy volume. GoNoGo Trend saw the “Go” trend return in force with a strong blue bar that saw price break through overhead resistance. With clear resurgent momentum in the direction of the renewed “Go” trend, we will look for price to consolidate at these new highs and for the trend to continue.
