Z had a good day today as the daily chart broke out. Low of the day was 29.60. I was watching it in the afternoon today as it was making new highs for a trade either long or short.. I noticed as price was making new highs to 33.37, lagging indicators such as MACD/CCI was not confirming the price move. That usually is a recipe for a pullback setup for quick day trade.after a big intraday run. Click on the 5 minute chart to see how it played out.
1.Stock making day high after big move but MACD/CCI not confirming the move as they are making lower high, so divergence in place.
2.Short the stock on intraday trend line break right below 33 with stop above.
Good for almost 1.50 gain.
Hope this helps.
