$HSY has been in a very strong “NoGo” trend since May.
Finally, GoNoGo Trend is able to recognize enough criteria being hit behind the scenes to trigger a change in trend. After an amber “Go Fish” bar two days ago, the indicator is painting a first “Go” aqua bar. We have seen the technical environment change in the run up to this. During the “NoGo” trend, GoNoGo Oscillator stayed at or below the zero line, getting rejected by that level several times. However, on price’s last lower low, GoNoGo Oscillator showed bullish divergence by making a higher low. Shortly after, it rose to challenge the zero line again, where it remained for several bars causing the climbing grid of GoNoGo Squeeze to climb to its Max. Just before GoNoGo Trend started to show signs of change, GoNoGo Oscillator broke out of the Max GoNoGo Squeeze into positive territory. This put momentum out of sync with the final bars of the “NoGo”. Now, with a new “Go” trend identified, GoNoGo Oscillator is in positive territory, telling us that momentum is now on the side of the new “Go” trend. We will look for price to move higher and set a higher high.
