$KHC has been in a “Go” trend since the end of July.
Before GoNoGo recognized this new trend, GoNoGo Oscillator broke above the zero line and price rallied off the July 11 lows. In early August, price set a new high and we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we saw a string of weaker aqua “Go” bars and GoNoGo Oscillator fell to test the zero level from below. It has been finding support at zero ever since, telling us that momentum has been able to stay on the side of the underlying “Go” trend. With the “Go” trend strengthening again to paint bright blue “Go” bars, we see that GoNoGo Oscillator has once again found support at zero. With momentum resurgent in the direction of the “Go” trend, we will look for price to consolidate new highs in the coming days and weeks.
