Descending triangle pattern building on OMU. Will need to close below previous swing lows, at R11. First target at R10 and full target at R7
Comment:
stock hasn't closed below R11 yet but has broken the trend line and now needs to break previous swing lows.
Trade active:
Still no close below R11 but it has now set up a better trade idea with a mini bear flag touching it's previous trend line. A close below R11.60 will trigger the short with 1st target at R10 and 2nd target R7. Stop loss is a close above R12.
Trade active:
OMU has come back to the top of the triangle formation. Which if it sets up could give us a better entry. R13 has been the big level of resistance. A nice reversal day at that level could trigger our short idea.
Trade active:
Idea is still active although we haven't had any reversal day of that R13 level. Short's just below that level seem to be working out intraday.
Order cancelled