Allstate Corp looks to have broken out from a bull flag as we see renewed momentum in the direction of the “Go” trend.
Price is now testing the prior high from the pattern. After rallying out of the “NoGo” at the end of December, the GoNoGo Oscillator has stayed in positive territory. As price corrected against the trend, (note the Go Countertrend Correction red arrow at the high) GoNoGo Oscillator fell to and rode the zero line where we looked for support. It seems now to have definitively broken out of the GoNoGo Squeeze into positive territory on heavy volume. This triggered a Go Trend Continuation green circle to appear under price on this chart’s penultimate bar. We will look to see if price can set a new high.
