Hyster-Yale Materials Handling Inc emerged out of a long “NoGo” just about a week ago.
First, we saw GoNoGo Oscillator beat the resistance at the zero line in mid December and as it found support at that level, price set a higher low and moved through an amber “Go Fish” bar into a new “Go” trend. Small price correction over the last few bars has caused GoNoGo Oscillator to fall to the zero line where it has again found support. We now see a Go Trend Continuation icon under the newest strong blue “Go” bar. Given the rotation we are seeing into cyclical value stocks at the moment, this could be a nice opportunity to enter the beginning of a new “Go” trend.
