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$BANC, Banc of California, Inc, saw a strong rally from the fall of last year. Price moved from a little below $9 to over $20.
During that time, the GoNoGo Oscillator was able to consistently find support at the zero line. In late March, we saw price fall out of trend, first with a few amber “Go Fish” bars and then into a “NoGo” consolidation. The GoNoGo Oscillator confirmed that move when it fell below zero on March 23rd. During the “NoGo” we saw bullish divergence from the oscillator as it made higher lows. Finally, the GoNoGo Oscillator has broken back above the zero line and the GoNoGo Trend has painted a “Go” bar indicating a new trend has been identified. Look for price to move higher, testing the prior high.