KEY
TAKEAWAYS
- development continuation
- breakouts
- Momentum Affirmation
- Bull Flags
High 5 Shares in “Go” Developments
Pattern Continuation on Rising Momentum
GoNoGo Charts® spotlight low-risk alternatives for development participation with intuitive icons straight within the worth motion. The resurgence of momentum within the course of the underlying worth development is a superb entry alternative, or the possibility to scale up positions.
GoNoGo Icons® illuminate these occasions on the chart with inexperienced stable circles (or crimson circle to focus on continuation of NoGo traits). When GoNoGo Pattern® is portray blue or aqua bars, a inexperienced stable circle will seem under worth every time GoNoGo Oscillator® finds assist at zero.
Beneath are the highest 5 shares/ETFs in “Go” traits with surging momentum by quantity within the S&P 500 as of the every day closing worth motion:
StockCharts Scan for GoNoGo “Go” Pattern Continuation
Walmart Inc – (WMT)
§ GoNoGo Icons signaled a development continuation on Thursday (05/16/24).
§ After Wednesday’s reversal candle on impartial amber development situations, worth motion gapped greater ending the week on robust “Go” situations portray blue bars.
§ GoNoGo Oscillator discovered assist on the zero line, racing greater to overbought momentum on Friday.
§ Walmart has traded on heavy relative quantity all week.
Basic Motors Co. (GM)
§ GoNoGo Pattern returned to robust blue “Go” situations to conclude the buying and selling week at prior highs slightly below $46/share.
§ GoNoGo Icons signaled a development continuation on Thursday (05/16/24).
§ GoNoGo Oscillator ended the week in optimistic territory breaking out of a Max GoNoGo Squeeze® as momentum compressed on the impartial zero line the previous two buying and selling weeks.
Newmont Company (NEM)
§ GoNoGo Pattern sustained robust blue “Go” situations to all through the buying and selling week.
§ GoNoGo Icons signaled a development continuation on Friday (05/17/24).
§ GoNoGo Oscillator ended the week in optimistic territory after retesting the zero line on gentle relative quantity.
American Intl Group, Inc. (AIG)
§ GoNoGo Pattern returned to robust blue “Go” situations to finish this buying and selling week.
§ This restoration follows weakening development situations and corrective worth motion.
§ GoNoGo Icons signaled a development continuation on Friday (05/17/24).
§ GoNoGo Oscillator examined and located assist on the zero line.
§ Momentum broke to optimistic territory on Friday rallying on heavy relative quantity.
EQT Corp. (EQT)
§ GoNoGo Pattern ended the buying and selling week on robust blue “Go” situations.
§ GoNoGo Icons signaled a development continuation on Wednesday and Friday (05/17/24).
§ GoNoGo Oscillator entered the buying and selling week on the impartial zero line, constructing a small squeeze, rallied, and retested earlier than ending the week in optimistic territory once more on Friday.
§ EQT Corp. has traded on gentle relative quantity since early Could.
Tyler Wooden, CMT, co-founder of GoNoGo Charts, is dedicated to increasing using information visualization instruments that simplify market evaluation to take away emotional bias from funding choices.
Tyler has served as Managing Director of the CMT Affiliation for greater than a decade to raise traders’ mastery and talent in mitigating market danger and maximizing return in capital markets. He’s a seasoned enterprise govt targeted on academic know-how for the monetary providers business. Since 2011, Tyler has offered the instruments of technical evaluation around the globe to funding companies, regulators, exchanges, and broker-dealers.
