This Is One Way To Confirm Intraday Bottoms
I was planning to buy
Genentech Inc (DNA). It looked ready to
rally out of a pullback from the March 15 high. But, it gapped up this morning.
I don’t know the detail of the story, but it has definitely destroyed my plan.
11:18:33 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
ES | buy at the market | positive stochastic divergence |
1181.25 | 1186 | 1183.25 |
TK |
Shortly after 11:00 AM, ES hit a new low of the
day. But, as you can see on the 3-minute chart, the stochastic did not record a
new low. It was a positive divergence. Also notice this low was made above the
lower Bollinger band. ES might be forming a bottom. I placed a buy at the
market.
11:42:53
Follow up on ES (Pt 2)
It has hit our target of 1186. Sell the rest or move stop to 1185.
T.Kamada
If you have questions, feel free to
mail them to me.
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