$DAL has been in a “Go” trend since early September.
We have seen a series of higher highs and higher lows as price has climbed to over $65. During that time, GoNoGo Oscillator was at or above the zero line often finding support at that level. Recently, after the most recent high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed GoNoGo Trend then painted several weaker aqua bars as price moved mostly sideways. GoNoGo Oscillator fell again to test the zero line and remained at that level in a virtual tug of war between buyers and sellers. We saw a Max GoNoGo Squeeze build to reflect this. Finally, as price moves higher on a strong blue “Go” bar, the oscillator has broken out of the Max GoNoGo Squeeze into positive territory and we can say that momentum is now resurgent in the direction of the underlying “Go” trend. We will watch to see if price can climb from here.
