Core and Main Inc is in a “Go” trend and we see a fresh Go Trend Continuation icon (green circle) as price runs up against resistance.
The concept of polarity shows us that what was once support is likely to become resistance and we see that demonstrated clearly on this chart. We are seeing resistance at levels that were support earlier in the chart. However, now a “Go” trend is in place and we have seen a higher low. GoNoGo Oscillator has also managed to break back into positive territory and so there may be enough momentum for price to attack that level again. If GoNoGo Oscillator can remain in positive territory, look for price to set a new high above $26.50.
