$LKQ has seen price fall since the beginning of August.
Now, after finding a floor in late October, price has entered a “Go” trend. When we look at the chart to determine how the technical environment has changed, we can see many things. GoNoGo Oscillator rose to test the zero line from below as price stabilized and then spent over a month stuck around that level. This has caused the climbing grid of GoNoGo Squeeze to rise to its Max and the oscillator then has split its time between zero and positive territory. During that time, GoNoGo Trend flowed out of “NoGo” colors and painted a string of amber “Go Fish” bars as the market made up its mind. The first “Go” bar comes as GoNoGo Oscillator breaks out of another GoNoGo Squeeze into positive territory on heavy volume. On the chart, we can see how this move is breaking out of what looks to be an ascending triangle as well. We will look for price to consolidate at these levels and move higher.
