KEY
TAKEAWAYS
- Scanning for breakouts on heavy quantity
- Momentum confirmations of underlying traits
- Main Equities in pattern continuation
High 5 Shares in “Go” Developments
Development Continuation on Rising Momentum
GoNoGo Charts® spotlight low-risk alternatives for pattern participation with intuitive icons straight within the worth motion. The resurgence of momentum within the course of the underlying worth pattern is a wonderful entry alternative, or the prospect to scale up positions.
GoNoGo Icons® illuminate these occasions on the chart with inexperienced strong circles (or crimson circle to focus on continuation of NoGo traits). When GoNoGo Development® is portray blue or aqua bars, a inexperienced strong circle will seem beneath worth every time GoNoGo Oscillator® finds assist at zero.
Under 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:
Akamai Applied sciences, Inc. (AKAM)
§ GoNoGo Icons signaled a pattern continuation on Friday (08/09/24).
§ After a multi-month NoGo pattern starting in February, worth motion primarily based at $88 and reversed to a Go pattern in July.
§ After a retest throughout this week’s volatility, AKAM completed the week on sturdy “Go” circumstances after gapping greater on a blue bar.
§ GoNoGo Oscillator broke out from beneath the zero line ending at optimistic 2 on Friday.
§ AKAM has traded on heavy relative quantity all week.
Raytheon Applied sciences Corp. (RTX)
§ GoNoGo Development held weak type “Go” circumstances this week on pale aqua bars.
§ GoNoGo Icons signaled a pattern continuation on Friday (08/09/24).
§ GoNoGo Oscillator ended the week in optimistic territory after retesting the zero line and discovering assist.
Healthpeak Properties, Inc. (DOC)
§ GoNoGo Development sustained “Go” circumstances all through the buying and selling week.
§ GoNoGo Icons signaled a pattern continuation on Tuesday and Friday (08/09/24) as momentum discovered assist at impartial
§ GoNoGo Oscillator ended the week in optimistic territory after testing the zero line on heavy relative quantity.
United Dominion Realty Belief (UDR)
§ GoNoGo Development returned to sturdy blue “Go” circumstances after portray a pink NoGo bar throughout Monday’s selloff.
§ This restoration follows weakening pattern circumstances and corrective worth motion in late July.
§ GoNoGo Icons signaled a pattern continuation on Friday (08/09/24).
§ GoNoGo Oscillator lately dipped into adverse territory, however recovered optimistic momentum circumstances on Friday.
Progressive Corp. (PGR)
§ GoNoGo Development ended the buying and selling week on sturdy blue “Go” circumstances.
§ GoNoGo Icons signaled a pattern continuation on Friday (08/09/24).
§ GoNoGo Oscillator has constructed three max squeeze circumstances as worth motion grew to become vary certain via the summer time months.
§ Momentum delivered a false breakdown on Monday earlier than breaking again into optimistic territory once more on Friday. |
Tyler Wooden, CMT, co-founder of GoNoGo Charts, is dedicated to increasing using knowledge 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 ability in mitigating market danger and maximizing return in capital markets. He’s a seasoned enterprise govt targeted on instructional expertise for the monetary providers trade. Since 2011, Tyler has offered the instruments of technical evaluation all over the world to funding companies, regulators, exchanges, and broker-dealers.