The last positive divergence looked pretty strong, now we have (2 of 3) 3C 1 min charts in some variation of a negative divergence and for the first time we have the 3C 5 min charts with 2 of 3 in negative divergences and 1 inline with price. Finally some movement.
There's not a lot of time in the trading day left though and the 5 min divergences usually take at least an hour to materialize in price.
5 years ago
2 comments:
EDZ is seeing an large spike in purchase volume in the last couple of minutes.
THERE'S been long term accumulation there. They broke support around $35.50 and the volume jumped, now that is not uncommon to due right before a move up, it is also not uncommon for a sell-off. Overall, I'd say long term it looks bullish and the 1 min charts are in positive territory. This my very well be accumulation, I would not be surprised one bit. For a trade though, at least the majority of it, I would wait for price confirmation above $35.50 on rising volume,
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