Unity. Inverse Head and Shoulder forming. + Bullish divergence

2 Jun 2023

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

12 Jun 2023

Nota

Remember, it's positive to see volume tick down a bit in a consolidation or compression zone.

14 Jun 2023

Nota

1st profit target at $42 has been reached.

15 Jun 2023

Nota

Volume up 50% above 10 Day avg

21 Jun 2023

Nota

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.

6 Jul 2023

Nota

I see bullish divergence on the 1min this morning. Could be a setup for a nice close imo.

11 Jul 2023

Nota

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.

11 Jul 2023

Nota

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,