Academy Sports and Outdoors Inc, is seeing a resurgence of momentum in the direction of the “Go” trend.
After climbing from lows in March, GoNoGo Oscillator burst through the zero line on heavy volume. GoNoGo Trend confirmed the changing technical environment, first painting amber “Go Fish” bars followed by the paler aqua “Go” colors and finally strong blue bars. Price has consolidated mostly sideways since the “Go” flag, and GoNoGo Oscillator has returned to test the zero line. It looks to have found support, moving back into positive territory and breaking out of a small GoNoGo Squeeze. We’ll look for price to consolidate above $40.
