$YUM has been in a “Go” trend since early February.
Since then it raced to set higher highs at the beginning of March. After that high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, for the last few weeks, we have seen price move mostly sideways and GoNoGo Trend paint a majority of weaker aqua “Go” bars. During this time, GoNoGo Oscillator fell to test the zero line from above where it got stuck. We saw an extended Max GoNoGo Squeeze build reflecting the tug of war between buyers and sellers at this level. Now, with GoNoGo Oscillator breaking out of the GoNoGo Squeeze into positive territory, and GoNoGo Trend again painting strong blue bars, we can say that momentum is resurgent in the direction of the “Go” trend and we will watch to see if this gives price the push it needs to climb to a new higher high.
