$REG was in a meandering “NoGo” trend since January of this year.
After making a final low mid April, price started to slowly rally off the floor. An amber bar later that month coincided with GoNoGo Oscillator dipping its nose into positive territory. Since then, price failed to make a new lower low and GoNoGo Oscillator has been able to stay in positive territory finding support at the zero line. As price moved sideways for the last few weeks, GoNoGo Oscillator got stuck at the zero level causing the climbing grid of GoNoGo Squeeze to rise to its Max. As the oscillator broke out of the Max GoNoGo Squeeze, GoNoGo Trend identified the changing technical conditions and painted a first aqua “Go” bar. Now, GoNoGo Oscillator has quickly retested the zero line and found support, and we see a Go Trend Continuation Icon (green circle) under the price bar. At the same time, GoNoGo Trend shows the trend is strengthening as it paints a stronger blue bar. We will look for price to climb, making an attempt at a new higher high.
