$BLND has seen price stuck in a sideways consolidation for the last few weeks.
After dropping sharply to a low in early May, price has rallied allowing the GoNoGo Trend indicator to move out of “NoGo” bars through amber “Go Fish” and into “Go” bars. GoNoGo Oscillator as expected led this change when it broke through the zero line on heavy volume prior to the change to a “Go” trend. Now, investors digest these gains and we see GoNoGo Oscillator riding the zero line as there is little directional momentum. Unable to leave the zero line for several bars we are seeing a Max GoNoGo Squeeze as the orange grid has climbed to its max. We will watch to see in which direction the squeeze is broken. If the oscillator breaks into positive territory then we will expect to see price make an attack on new highs.
