Top 5 Stocks in the “Go” Trend | Friday May 31, 2024 | GoNoGo Chart
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- trend continues
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Top 5 Stocks in the “Go” Trend
Trend continues with upward momentum
GoNoGo Charts® uses intuitive icons directly on the price action to highlight low-risk opportunities for trend participation. The resurgence of momentum in the direction of the underlying price trend is a great entry opportunity or an opportunity to expand a position.
GoNoGo Icons® mark these events on charts as green circles (or red circles to highlight the continuation of the NoGo trend). When GoNoGo Trend® Paints the Picture blue or aqua Whenever the GoNoGo Oscillator® finds support at 0, a solid green circle will appear below the price.
Here are the top five stocks/ETFs in the “Go” trend with surging momentum by volume in the S&P 500 as of daily close.
GoNoGo Scan StockCharts to continue the “Go” trend
Apple (AAPL)
§ The GoNoGo icon indicated a continuation of the trend on Friday (24/05/31).
§ After a sharp reversal last Friday, prices rose to end the week on strong “Go” terms. blue Back to previous highs.
§ The GoNoGo Oscillator found support at the zero line this week, exerting some pressure before turning higher on Thursday and Friday.
§ AAPL has been trading on relatively light volume over the past three weeks.
Bank of America Corporation (BAC)
§ GoNoGo trend is back to strength. blue The “go” condition is to end the trading week just above the previous high at $40 per share.
§ After heavy trading on Thursday, prices bounced back to close just as they opened.
§ The GoNoGo icon indicated a continuation of the trend on Friday (5/31/24).
§ GoNoGo Oscillator ended the week in positive territory with an approval rating of 0.
§ Volume increased during Friday’s strong rally.
Captain Arch Grp. (ACGL)
§ The GoNoGo Trend has eased to a mild form but remains “Go”. aqua Prohibits the second half of the trading week.
§ The GoNoGo icon indicated a continuation of the trend on Friday (24/05/31).
§ GoNoGo Oscillator ended the week in positive territory after testing the zero line on relatively heavy volume.
Keurig Dr. Pepper (KDP)
§ The GoNoGo trend returned to a strong blue “Go” condition to end this trading week.
§ This recovery is due to weakening trend conditions and price correction actions.
§ The GoNoGo icon indicated a continuation of the trend on Friday (24/05/31).
§ GoNoGo Oscillator was retested at the zero line for the 4th time in May and found support showing a cluster of consecutive icons.
§ GoNoGo Squeeze® has built a small grid, with momentum compressing at the neutral zero line for the second time in the past two weeks.
§ Momentum broke into positive territory on Friday. This time it bounced back with relatively high volume.
JP Morgan Chase & Company (JPM)
§ GoNoGo Trend ended the trading week strong. blue “Go” condition.
§ The GoNoGo icon indicated a continuation of the trend on Friday (24/05/31).
§ The GoNoGo oscillator entered the trading week at the neutral zero line, forming a squeeze before swinging back into positive territory on Friday.
§ JPM is trading on relatively low volume.
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Tyler Wood, CMT, co-founder of GoNoGo Charts, is committed to expanding the use of data visualization tools that simplify market analysis to remove emotional bias from investment decisions. Tyler served as Executive Director of the CMT Association for over 10 years to advance the proficiency and skill of investors in mitigating market risk and maximizing capital markets returns. He is a seasoned business executive focused on educational technology for the financial services industry. Since 2011, Tyler has presented technical analysis tools to investment firms, regulators, exchanges and broker-dealers around the world. Learn more
