Diamondrock Hospitality looks set to rally further.
DRH has been consolidating sideways since the beginning of December after a sharp rally that has seen price double since the lows in November.
Still in a “Go” trend, we have seen several low risk entries during the later stage of the consolidation as the GoNoGo Oscillator has found support at the zero line, as it should in a strong trend.
The last of these came on the penultimate bar, and price has pushed strongly up to make a new high. We would like to see heavier volume to confirm the break in the form of a darker blue GoNoGo Oscillator.
