$ROL sees a new “Go” bar as it breaks out to new highs.
After failing at resistance multiple times in February, we saw the stock suffer a strong correction as GoNoGo Oscillator fell sharply through the zero line into negative territory on heavy volume and GoNoGo Trend painted “NoGo” bars. However, prices quickly rallied and that saw GoNoGo Oscillator charge back toward the zero line and it tested that level for a few days. When it broke back into positive territory that gave price the momentum push it needed as the Trend indicator moved out of “NoGo” bars to paint consecutive amber “Go Fish” bars as price ran up against that same resistance. We can see how significant the overhead supply was at that level as it carries over from all time highs much earlier in the chart. Now, price has surged above resistance and GoNoGo Trend paints a first “Go” bar with momentum firmly in positive territory. We will look for price to consolidate above this resistance and attack higher prices.
