Top 5 Stocks in “Go” Trends
Trend Continuation on Rising Momentum
GoNoGo Charts® highlight low-risk opportunities for trend participation with intuitive icons directly in the price action. The resurgence of momentum in the direction of the underlying price trend is an excellent entry opportunity, or the chance to scale up positions.
GoNoGo Icons® illuminate these events on the chart with green solid circles (or red circle to highlight continuation of NoGo trends). When GoNoGo Trend® is painting blue or aqua bars, a green solid circle will appear below price each time GoNoGo Oscillator® finds support at zero.
Below are the top 5 stocks/ETFs in “Go” trends with surging momentum by volume in the S&P 500 as of the daily closing price action:
Scan Results for Go Trend Continuation Icons – Daily
ConAgra Brands, Inc – (CAG)
GoNoGo Icons signaled a trend continuation on Friday (05/10/24). After setting a higher swing low on Monday, price action was to the upside the remainder of the week reaching strong “Go” conditions Wednesday through Friday on blue bars.GoNoGo Oscillator found support at the zero line, but remained neutral for over a week as GoNoGo Squeeze® maxed out in the amber grid, before moving to positive momentum on Friday. ConAgra has traded on light relative volume since early April.
Campbell Soup Co. (CPB)
GoNoGo Trend returned to strong blue “Go” conditions to conclude the trading week at prior highs just under $46/share.Countertrend price action from the prior week led to weaker aqua trend conditions through Wednesday.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). GoNoGo Oscillator ended the week in positive territory after finding support at the zero line.
Hormel Foods Corp. (HRL)
GoNoGo Trend ended the trading week on strong blue “Go” conditions.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). GoNoGo Oscillator remained neutral building a small squeeze through the week and rallied back to positive territory again on Friday. Hormel has traded on light relative volume since early March when this recent Go Trend took shape following a sharp gap higher.
Waste Management, Inc. (WM)
GoNoGo Trend returned to strong blue “Go” conditions to conclude the trading week.GoNoGo Icons signaled a trend continuation on Friday (05/10/24). Countertrend price action last week had established a weak “NoGo” trend on pink bars.GoNoGo Oscillator ended the week in positive territory after retesting the zero line on light relative volume.
Cummins Inc (CMI)
GoNoGo Trend returned to “Go” conditions to end this trading week on an aqua bar.This recovery follows deteriorating trend conditions last week on pink and purple NoGo bars.The reversal this week cycled from a weak-form pink “NoGo” bar, through several amber bars, before trend conditions were established on Friday.GoNoGo Oscillator was in negative momentum below the zero line or testing from below since mid-April.Momentum broke out to positive territory on Friday rallying out of a small GoNoGo Squeeze.
