$OMI nice multi month base with right side trend break and nice tight cheat.
Yes, my setups all look the same lol.
Zoom out, its a nice big base. Zero distribution days on the right side of the chart and vol pattern looking decent.
Market structure: Uptrend
Setup: Breakout
Currently market is in an uptrend, Price consolidating around 34.07 - 39.45, having a confluence of 20MA starting to support the price, looking forward for price to go higher if price break through 39.60 area.
Will trail stop loss accordingly to my trading rules.
Disclaimer: Below simple trading idea is just for sharing,...
Sell zones and target indicated on the chart, buy the flag break out or the bottom of the flag channel with a stop at 21$
Hit the like button please if you find this useful :)
This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!
Did you get some ?
As you see ..Trading is simple but we tend to make harder . Price action is all you need . Price and volume and you have to know how to draw lines too..
1) Price is above the 13 sma for week and month
2) AO is positive for week and month
3) Elder Impulse is green for week and month
I have been in and out of this for the past year... if I had only hedl ;) Will look to get back in if I have the funds. Lets see if it can get back into the 40s.
A tutorial post about the pattern : Descending Broadening Wedge .
Do not go all in once because i posted it . It's a tutorial , learn , watch then trade .
OMI is consolidating again with support. Look for an opportunity near or at the 50MA but set a stop loss below the 50 as it may want to move to the redline support before making a move up again.
OMI - Over Extended Price, Normalizing the Over Extension
Holding an overall investment the Asset Value at Risk is the worst scenario the price can reach, the worst loss at normal market conditions, before to consider managing the investment into the Balanced Portfolio of Uncorrelated Streams.
Details on the chart.
-
Educational Details
Modern Portfolio...
In summary, this company has alot of debt, but also a very favorable macroeconomic environment for right now as well. This could be the start of a new uptrend but it has risen at an astonishing level and should see a correction soon given the massive amount of overhead supply for this stock. No positions yet but watching closely.
TA+personal opinion=not...
OMI is currently consolidating with support. Looks like $17.65 to $20.90 upside. This stock is great to hold long - Major cup and handle and could hit $33 soon. Check it out
This is a stock with strong fundamentals. There are a few key things about this one.The true bottom should be the 30 week MA at 4.50 and that would be amazing getting in at that price but... I feel like this stock has held up pretty well in the recent whiplashes in the S&P 500 and more importantly the 30 week moving average is pointing it straight up so I believe...
