Vulcan Materials [VMC] MACD divergence in action in early March

Early March, VMC formed a good looking double bottom on the daily price chart with a classic inverted V. The MACD on the second bottom was significantly higher on the first. By extrapolating the MACD from the second bottom we can see the MACD shows the price of VMC should be at the +$46 level. March 45 calls purchased in early March yielded +700%. Thanks to the Options Hunter Yahoo group members for highlighting this stock.


 

What did you think of this article?




Trackbacks
  • No trackbacks exist for this post.
Comments
  • No comments exist for this post.
Leave a comment

Submitted comments are subject to moderation before being displayed.

 Name

 Email (will not be published)

 Website

Your comment is 0 characters limited to 3000 characters.