The daily upside MACD divergence with a double bottom is clearly in place by April 22, 2019. The reverse V-shaped pattern is clearly almost a full trading month in length. Generally we can expect the pattern to play out to the upside over the same period.
Prices rose for several days before stalling around May 1. At this stage a reentry into the upside move requires the lower time frame MACD to show a clear divergence to the upside to feed the strong daily MACD divergence that is still in play.
The Options Hunter tweeted this to the Big Game subscribers on May 3, following a discussion the prior day to keep a watch out for the reentry opportunity.
The 15 minute chart through 11.45am eastern on May 2, 2019 clearly shows an upside divergence on the MACD.
The near to expiration May 3, 10 calls made huge gains.
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