We highlighted the chart of United Airlines back in December as price was trying to manage the resistance from prior highs.
While it was unsuccessful then, the GoNoGo Trend didn’t retreat back into a “NoGo” and the GoNoGo Oscillator found support at the zero line. 3 bars ago, we saw a green trend continuation icon suggesting a low risk entry point. Remember, when a “Go” trend has been established, and then we see the green circle, that means that momentum has come back in the direction of the trend. We can then expect price to rally from that point. The last two weekly bars have seen price break to the upside of the resistance from prior highs. This “Go” trend looks to be just getting started.
