PZZA is a great looking GoNoGo Chart. Over the past several months, in fact since September of 2020, PZZA has been forming the rounded consolidation of a cup.
The neckline is slightly upward sloping and we can see how the handle pulled back from the neckline before rising to test it once again. We will look for a break out above the neckline now to complete the pattern.
From a Technical GoNoGo Charts perspective, it is very encouraging to see the right side of the pattern painting entirely blue “Go” bars and that the GoNoGo Oscillator has been above zero the entire time finding support at the zero line when it does fall. You can see through the entirety of the chart how the GoNoGo Oscillator has used the zero line as an objective level of support and resistance, and has led the GoNoGo Trend indicator as its moved through the trend colors.
