Huge volume day on the daily chart.
Massive down trend. Could be a signal of a reversal starting.
Classic bullish divergence confirmed on the weekly MACD.
Gap to fill @ $ 20.57.
Stop = Under $10
Target = $20.22 (Gap fill)
Looks pretty good on weekly and daily, climbing up after finding the swing low. Above most lower moving averages. The short interest doesn't really bother me as I still believe overall the risk reward is so good here people will take their positions.
The company Ontrak has always proved to be an excellent partner for care centers, unfortunately in recent months one of their major customers has decided to abandon the contract with the company Ontrak.
This has led to a rapid decline in prices, but the company is proving to have a good basis to start again, the technology they produce is essentially unique and...
Just one for interest. I found it on a site that lists the top most shorted stocks and OTRK sites at around 40% short interest.
I'm wondering if there might be a short squeeze about to play out.
Bollingers are crazy compressed and there is a big 80% gap so even a small rise could be interesting.
A stop order perhaps around the $35 to $36 mark could be an...
Float = 7.53M
Short Stocks = 3.26M
past 7 day trade volume average = 667k
Short Interest = 43.29%
Days to Cover = 4.88
Things to consider:
1. majority of shorts may have covered.
2. price was shoved up to $40 and still didn't trigger a squeeze.
3. price climbed 80% from the bottom before dropping off again.
Looking at the volume profile from the precipitous drop a few days ago, we can expect high volatility in this gap fill. Today it tested and broke above the gap bottom. Let's see how it plays out.
What Is a Short Squeeze?
A short squeeze occurs when a stock or other
asset jumps sharply higher, forcing traders who
had bet that its price would fall, to buy it in
order to forestall even greater losses. Their
scramble to buy only adds to the upward
pressure on the stock's price
KEY TAKEAWAYS
*A short squeeze accelerates a stock's price rise
as short-sellers...
OTRK had a classic double top at the 80.00 mark setting that as resistance. Alternatively you can see a cup and handle forming on the daily starting from OCT to today. There's more, OTRK also based itself above the 90-day MA closing with a bullish engulfing candle on 1/15. Now we can chit chat a bit.
OTRK recently had an offering and raised 39 Million. When a...
If the market has found its bottom, $OTRK could be at the bottom of a potential high tight flag.
With its shakeout yesterday, and its daily MACD and stochastic oversold, we could see a bounce soon
Keep in mind I am not a financial advisor and this information is strictly for educational purposes only.
Ontrak, Inc. is a leading AI and technology-enabled healthcare company. They operate in the telehealth space as well. Quite a volatile pricing chart, but with recent pullbacks could be worth a look.
More about what they do here on their home page. Looks interesting: catasys.com
