Tata Motors- hidden bullish divergence
A hidden bullish divergence is a setup where the indicator forms progressively lower lows at the same time that the price is forming higher lows.
Here in tata motors daily chart same has happened.
- price has been in consolidation or has performed a pullback from an uptrend,, indicates that price still has some upside momentum and that any pullback is more likely the outcome of profit taking from previous buyers as opposed to strong selling.
-Here, we can see that the RSI formed lower lows at the same time the price formed higher lows. The period of divergence occurred at the time that price was pulling back in a retracement move.
Note: This chart is just for educational purpose and not for any trading purpose.
Here in tata motors daily chart same has happened.
- price has been in consolidation or has performed a pullback from an uptrend,, indicates that price still has some upside momentum and that any pullback is more likely the outcome of profit taking from previous buyers as opposed to strong selling.
-Here, we can see that the RSI formed lower lows at the same time the price formed higher lows. The period of divergence occurred at the time that price was pulling back in a retracement move.
Note: This chart is just for educational purpose and not for any trading purpose.
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