$AR is in a “Go” trend and has been since mid February.
After running up against resistance a week ago, we saw a Go Countertrend Correction Icon (red arrow) that indicated price may struggle to go higher in the short term. Indeed, GoNoGo Trend painted a week of pale aqua bars showing the weakness in the “Go” trend. During that pullback, GoNoGo Oscillator fell to test the zero line from above. After riding the zero line for a few bars we see that GoNoGo Oscillator was able to bounce back into positive territory. This tells us that momentum is resurgent in the direction of the underlying “Go” trend. GoNoGo Trend has also painted a stronger blue “Go” bar on the last session. This has brought price right back up against resistance levels. We will watch to see if this surging momentum will give price the push it needs to break above this prior high resistance. If it can, we will look for price to consolidate at new highs.
