$HAS has been in a “Go” trend for a few months.
In April, we saw price gap higher and asked ourselves whether it could be a runaway gap or an exhaustion gap. After the gap, we saw a Go Countertrend Correction Icon (red arrow) telling us that momentum had cooled and that price may struggle to go higher in the short term. Indeed, price has pulled back since then and GoNoGo Trend has painted predominantly weaker aqua bars. GoNoGo Oscillator has fallen from overbought territory to the zero line where it has mostly stayed. We have seen a Max GoNoGo Squeeze build as there has been a tug of war between buyers and sellers at these levels. Most recently, the oscillator has broken above the zero line back into positive territory. This is a good sign, and if momentum remains positive we will know that there is some market enthusiasm in the direction of the underlying “Go” trend. We will look for price to make an attack on a new higher high.
