$UNM, a financial life insurance company, has fallen out of a “Go” trend and entered a fresh “NoGo” after first painting a couple of amber “Go Fish” bars.
In the run up to this change in trend environment, we saw bearish divergence between price making higher highs and GoNoGo Oscillator making lower highs. Furthermore, after generally finding support at the zero line we see the oscillator breaking back into negative territory confirming the move to a “NoGo” trend. This suggests that momentum is now in the direction of the “NoGo”. Given the prior support, we could look for a target just above $30.
