Unity. Inverse Head and Shoulder forming. + Bullish divergence
Updated
Hey folks,
Another Inverse Head and Shoulder pattern with bullish divergence. My favorite pattern to trade, especially on these longer time frames. I am also noticing micro h and s patterns within in the smaller time frames on various stocks.
Besides the lackluster market response to its AI features, U hasn't had a whole lot going on fundamentally, noteworthy at least, but I'm picking up on the metaverse trend building steam again. This one is a great metaverse play.
I'll lock in profit accordingly. Around $42, $58, $65 and save some for all mighty $100 liquidity zone. I think mid July could see some nice action.
Happy trading!
OnePath
Another Inverse Head and Shoulder pattern with bullish divergence. My favorite pattern to trade, especially on these longer time frames. I am also noticing micro h and s patterns within in the smaller time frames on various stocks.
Besides the lackluster market response to its AI features, U hasn't had a whole lot going on fundamentally, noteworthy at least, but I'm picking up on the metaverse trend building steam again. This one is a great metaverse play.
I'll lock in profit accordingly. Around $42, $58, $65 and save some for all mighty $100 liquidity zone. I think mid July could see some nice action.
Happy trading!
OnePath
Note
Remember, it's positive to see volume tick down a bit in a consolidation or compression zone.Note
1st profit target at $42 has been reached.Note
Volume up 50% above 10 Day avgNote
I am looking for a re-entry of $36-$35 I'll re-evaluate in that range as it is the next high volume node, but for now it's my target.Note
I see bullish divergence on the 1min this morning. Could be a setup for a nice close imo.Note
BD=Bullish Divergence.Hey! I have re-entry orders from $38-$37.54. With a 4-5% STOP at a Code Red price of $36.19. If that breaks, I'll look to the middle of the range at $34.
There is also a subtle previous support/resistance line around the $36.50 that has seen a lot of attention both ways. I will buy more there if I get the chance with the same stop.
Happy Trading!
The 3 hr shows bullish divergence, but it has not yet weighted the 4hr, which is almost neutral.
On the 6hr, I can see Hidden Bullish Divergence, but is a more neutral stance. I think it could come down just a little bit, while maintaining Bullish Divergence and turn into Reversal Divergence.
Note
I wanted to point out that if this turns out to be a big M top, I have the bottom of the big range at $30-$27 level,
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