See link below for previous analysis.
Omnia stock has held up steady after breaking out of the falling wedge.
The MACD has a double convergence signal which is bullish and the MACD has held up above the zero line much longer than the previous two instances when it was above zero.
5186 is the invalidation level and buy the dips is the strategy above 5186
Omnia (OMN) is a diversified chemicals company supplying products to the agricultural, chemicals and mining industries in South Africa and 48 other countries. The Agricultural division is the leader in fertilizers in Southern Africa. It supplies granular, liquid and speciality fertilizers in Southern Africa, Eastern Africa, Australia, New Zealand, and Brazil. The...
Omnia (OMN) is a diversified chemicals company supplying products to the agricultural, chemicals and mining industries in South Africa and 48 other countries. The Agricultural division is the leader in fertilizers in Southern Africa. It supplies granular, liquid and speciality fertilizers in Southern Africa, Eastern Africa, Australia, New Zealand, and Brazil. The...
Omnia Holdings has recently shown some +10% Upside after the 50>200 EMA's Swapped.
A few other Indicators also "Show" this. I was going to say predicted - but must never use this dangerous transitive verb.
Anyway, use this Chart for Education Purposes.
On the Trend Cloud I've' shown the Light Green as +ve UP. And the Yellow -ve DOWN Ya Lose.
Smash the Rocket Boost...
JSE:OMN had an eventful 2022 and managed to rally to highs of R87.75. The stock however ended the year on a lower note as it completed the right shoulder of a H/S pattern it had started painting from September 2021. Beginning of 2023 saw the H/S structure getting broken to the downside and price has since continued forming lower highs and lower lows.
Looking at...
Omnia bulls could not sustain buying pressure and price has traded below 5434, invalidating the outlook shared on 27.06.2023, link below.
The overall structure from 1250, the March 2020 low, still looks bullish and the correction from 8775 still looks like a falling wedge that is still making lower highs and lower lows.
I will sit on my hands for now and monitor...
On 19.06.2023 Omnia released a good set of FY23 results.
Revenue: +24%
Operating Profit: +19%
HEPS: +10%
NAV: +2%
The share has experienced a 1 year bear market, down 38% from the June 2022 peak of 8775 to the recent low of 5434.
During this period, price has been contained in a falling wedge pattern, which is generally bullish once there is a clear...
Cup and Handle formed on Omnia with a tiny little handle.
The type of handle you hold when you go to an Italian coffee shop or the ones you buy at a Nespresso.
You hold it all awkwardly and you act like you're comfortable.
Ye that handle!
The price has broken it's downtrend after months of plummet. And now is showing strong signs of upside.
We have moving...
JSE:OMN is at an area of value. For investors' sake the stock better find the support here otherwise things aren't looking good. Bounce up to R74 seem like an impossible task, that path of least resistance is going down to R51.
Not looking good.
Head and Shoulders formed last year and the pattern is still in tact.
SInce the breakdown there has been a strong range bounded formation which has made this trade very lacklustre to hold.
Now that it's broken below the rectangle shows a more promising move to the original target.
200 >21>7
Target R54.82
ABOUT OMN
Omnia Holdings is a South African chemicals...
Omnia seems to be consolidating in a healthy fashion in the form of a triangle continuation pattern. Good chance in this resolving higher and your stops can be pretty tight on this. Triangle breakout could see it move to approx R95 so not a bad risk reward trade here.
From this morning's (pre-market) research report: "Omnia Holdings (OMN) | Trading at prior demand zone, with a positive divergence as per the RSI. In addition, the share has not test oversold conditions on current decline. Buy/long bias above 6285c. Stop-loss: 5870c. Target: 6872c."
