This Is Why You Should Pay Attention To Hidden Divergences
Univision
Communications (UVN) formed an inside bar just above the 38.2% Fib
level (from February 28 low to March 2 high) last Friday. So often narrow inside
bars signal directional changes.
Now, let’s see the 3-minute chart from today’s session.
09:54:26 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
UVN | buy stop at 29.01 | Long Gap Pullback |
28.90 | 29.12 | 28.98 |
TK |
After hitting 29.21 shortly after the open, the
stock began to pull back. Although UVN violated the lower boundary of a gap, it
managed to form a bullish tail. Notice the stochastic indicator is showing a
hidden divergence. I
immediately placed a buy stop at 29.01.
10:46:53
Follow up on UVN (Pt 2)
Move stop to 29.11 or sell the rest to take a 23-cent gain.
T.Kamada
Feel free to mail me your
questions.