$FRT Looks For New High in “Go” Trend

$FRT has been in a new “Go” trend since early this month.

This new trend came after a correction that pushed GoNoGo Oscillator into negative territory and GoNoGo Trend to paint purple “NoGo” bars.  GoNoGo Oscillator was able to regain positive territory as the market showed some uncertainty with consecutive amber “Go Fish” bars before it ascended further into a “Go” trend. Price then made a new higher high on strong blue “Go” bars before a Go Countertrend Correction Icon (red arrow) suggested a short term retreat.  As price fell from the high and GoNoGo Trend painted weaker aqua bars, we saw GoNoGo Oscillator fall to test the zero line from above.  It quickly found support, bouncing back into positive territory.  This triggered a Go Trend Continuation Icon (green circle) under the price bar.  We will watch to see if this boost in momentum in the direction of the underlying trend will help price climb to another higher high in the coming days.