New “Go” trend spotted for $ALLO.
A strong “NoGo” has been in place for several months but we have seen some bullish price action recently that has led to a change in trend that has been recognized by the GoNoGo Trend indicator. The GoNoGo Oscillator in the lower panel showed bullish divergence from price as it made a succession of higher lows even as price continued to fall. As it finally broke above the zero line on heavy volume (dark blue oscillator) the GoNoGo Trend painted an amber “Go Fish” bar. This was swiftly followed by an aqua “Go” bar as price got above recent resistance levels. There is more overhead supply ahead at around $26.6 and so that can be an initial target for this fledgling “Go” trend.
