The reaction to $DE earnings this week has sent the stock under the $90 level. I have been monitoring it – using Price Alerts – looking for a solid bottoming process. One thing I noticed today was a divergence between price and the Accumulation/Distribution indicator on the 5 minute chart:
This action is really noteworthy as there is a significant sell volume bar within today’s action. However, this divergence often leads to quick price recovery so it will be an interesting Tuesday (market is closed on Monday). This remains on my Stalk list.
Enjoy the 3-day weekend folks.