$HON has been in a “Go” trend since early May.
After the change in trend we have seen a series of higher highs and higher lows. Just before the trend began, GoNoGo Oscillator rode the zero line and we saw a Max GoNoGo Squeeze build as volatility was reduced at the end of the “NoGo”. Since the, momentum has been at or above the zero line, each time it falls to that level it has found support, confirming the “Go” trend. Most recently, we see a similar situation. GoNoGo Oscillator has been stuck at the zero line which allowed the climbing grid of GoNoGo Squeeze to rise to its Max. During this latest period of reduced volatility, price has fallen from a Go Countertrend Correction Icon (red arrow) at the latest high and GoNoGo Trend has painted a series of weaker aqua bars. As we watch GoNoGo Oscillator break out of the Max GoNoGo Squeeze back into positive territory, we see strong blue bars return to price. With momentum once again resurgent in the direction of the “Go” trend, we will look for price to make an attack at a new higher high.
