$AAL looks to have put in a base over the past couple of months.
Most recently we saw a new higher low. A series of events tipped us off to the coming trend change. At the lows, multiple NoGo Countertrend Correction Icons (green arrows) were plotted, telling us that price might struggle to go lower in the short term. GoNoGo Oscillator then rallied to and broke through the zero line, a clear warning for the bears. Following that, GoNoGo Trend was unable to maintain NoGo colors as we saw amber and weaker aqua “Go” bars as GoNoGo Oscillator continued to find support at the zero line. On Monday, with a fresh Go Trend Continuation Icon (green circle) GoNoGo Oscillator was able to rally substantially into positive territory on heavy volume while GoNoGo Trend painted strong blue “Go” bars. We will watch now, to see if price can break through the horizontal resistance we see on the chart from an earlier gap.
