$KR rallied out of its “NoGo” trend earlier in July.
This came after GoNoGo Oscillator broke above the zero line, telling us that there was a threat to the “NoGo”. After hitting a first new high mid month, we saw a Go Countertrend Correction Icon (red arrow) suggesting that price may struggle to go higher in the short term. Indeed, price pulled back, with GoNoGo Trend painting a string of weaker aqua bars. This caused GoNoGo Oscillator to fall to the zero line from above where we knew it would be important for it to find support. It has done so twice, triggering two Go Trend Continuation Icons (green circles) on the chart. With momentum resurgent and GoNoGo Trend painting strong blue bars, we will look to see if price can move higher to set a new higher high.
