$ALB has entered a new “Go” trend on resurgent momentum.
Last month we saw price hit a final low and then bullish divergence between price and the oscillator as price moved mostly sideways while GoNoGo Oscillator rallied to test the zero line from below. As the oscillator remained at zero, meaning there was very little directional momentum, we saw a Max GoNoGo Squeeze build. This tug of war was ultimately resolved to the upside and with heavy volume. Concurrently, GoNoGo Trend was able to move from “NoGo” colors to paint an amber “Go Fish” bar followed by the current, aqua bar. With momentum on the side of the underlying trend, we will watch to see if price can kick on to higher highs.
