$ZBH has been in a “Go” trend since mid November of 2023.
After a few Go Countertrend Correction Icons (red arrow) at the beginning of this year, price moved mostly sideways as investors consolidated gains. During that time, GoNoGo Trend painted many weaker aqua “Go” bars and GoNoGo Oscillator fell to test the zero line from above. With the oscillator primarily finding support at the zero line during that time we were looking for the trend to persist. Now, with GoNoGo Oscillator breaking out of a small GoNoGo Squeeze into positive territory we see GoNoGo Trend once again painting stronger blue “Go” bars. Price is breaking above a level of horizontal support as well. With momentum resurgent in the direction of the underlying “Go” trend we will look for price to consolidate at these new highs.
