Omnicell hesitating but still in upward trend channel
Omnicell has failed a couple attempts to break upward out of of the triangle pattern it's been in. But it's still well within its upward trend channel, so until it breaks that channel, I'm still fairly bullish on the stock. Omnicell has good analyst ratings and an earnings date coming up July 25.
However, the stock may fall to the $79 resistance level, so wait for that entry point to buy, and then watch closely to make sure it doesn't break downward out of the channel. We should know by July 20 whether the channel will hold, so this is a medium-term trade. Until then, look for Omnicell to trade in a range between $79 and $84.
However, the stock may fall to the $79 resistance level, so wait for that entry point to buy, and then watch closely to make sure it doesn't break downward out of the channel. We should know by July 20 whether the channel will hold, so this is a medium-term trade. Until then, look for Omnicell to trade in a range between $79 and $84.
Comment:
Big breakout above resistance today!
