The Divergences are Diverging

Take a look at this 5 minute chart of TMO (Thermo Scientific Inc):

1) Price is wedging

2) The Accumulation/Distribution indicator is a Rocket Ship

3) Decent Volume in the stock

4) Higher Lows this week for price

I am currently long the stock but see a similar pattern in it today that I have seen in a few others that I sold (the “simmering” disease). I have a trail stop at 56.80 on the balance so I will let the market decide for me on this one.

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