Forestar Group is in a “Go” trend which started at the beginning of November.
After GoNoGo Oscillator was able to break above the resistance of the zero line early in October GoNoGo Trend painted a string of amber “Go Fish” bars. The “Go” trend then took hold on heavy volume (dark blue of the oscillator). As price rallied and GoNoGo Oscillator became overbought we saw a Go Countertrend correction red arrow appear indicating that price may consolidate against the trend in the short term. This price action caused the oscillator to fall to the zero line where it looks to have found support. The Go Trend continuation green circle under the current price bar tells us that momentum has returned in the direction of the “Go” trend. Look for price to set a new high above $22.20.
