Bluebird Bio Inc has been emerging out of a basing pattern for some time.
First we saw the GoNoGo Oscillator break above zero on around the 20th of September. This indicated that there was some positive momentum at the same time as price was unable to set lower lows. GoNoGo Trend then struggled to maintain “NoGo” bars and we saw several amber “Go Fish” bars creep in and then eventually pale aqua bars as a new “Go” trend took hold. Price also got above resistance from the lower bound of the gap from early August. Now, GoNoGo Oscillator has bounced off the zero line telling us that momentum is in the direction of the “Go” trend. We will initially target the upper end of the gap at just over $24.60.
