$UAL sees trend continuation at resistance

$UAL sees trend continuation at resistance


July 2023


Alex Cole

$UAL has been in a "Go" trend since early May.

After hitting a high in late June, price has moved mostly sideways and we have seen GoNoGo Trend sprinkle in some weaker aqua bars as price consolidates.  This has caused GoNoGo Oscillator to fall to the zero line where it has found support this entire "Go" trend so far.  This time, it stayed at zero for several bars allowing the climbing grid of GoNoGo Squeeze to start to build.  This showed the tug of war between buyers and sellers at these price levels.  Now, GoNoGo Oscillator is breaking out of the Squeeze into positive territory and volume is heavy.  Perhaps this renewed momentum will give price the push it needs to move to new higher highs.