At the end of last year, $UDR saw a “Go” trend take highs into January of 2024.
The trend then struggled. First, we saw GoNoGo Oscillator fail to find support at the zero line breaking into negative territory on heavy volume. Then GoNoGo Trend painted three amber “Go Fish” bars before identifying a “NoGo” correction that lasted into the very beginning of this month. Failing to set a new lower though saw momentum wane and GoNoGo Oscillator challenged the zero line, this time from below. As GoNoGo Oscillator broke clearly back into positive territory GoNoGo Trend painted amber “Go Fish” bars of uncertainty before a first aqua “Go” bar. Now, with momentum positive and resurgent in the direction of the new “Go” trend, we will look for price to make an attack on a new higher high.
