$HRL has been in a “Go” trend since the large gap in late February.
Price struggled to go higher since that gap and in fact has moved mostly sideways in the few months since. However, during that time, price had been able to stay above the zero line for the most part. GoNoGo Trend has been able to maintain the “Go” trend with a mix of blue and aqua bars. After initially falling from the high prices from the gap, price has seen a series of slightly higher lows and is again running up against overhead resistance in the form of the horizontal line we see on the chart. With GoNoGo Trend painting a string of bright blue bars and GoNoGo Oscillator repeatedly finding support at the zero line, we will watch to see if this resurgent momentum in the direction of the underlying “Go” trend will give price the push it needs to break above resistance to a new high.
