Bearish potential detected for OML

20 oct

Entry conditions:
(i) lower share price for OOML along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $1.245.

Stop loss for the trade would be:
(i) above the resistance level from the open of 8th October (i.e.: above $1.29), or
(ii) above the resistance level from the open of 6th September (i.e.: below $1.31), depending on risk tolerance.

26 oct

Operación activa

UPDATE (week ending 25-Oct): Trade activated 21st October, with share price closing well below 10 and 30 day MA's at the end of the trading week (note the possibility of a sudden 'snapback' to the 10 day MA, as well as a possible test of the support/resistance area from July 2023 of $1.18).

2 nov

Operación cerrada manualmente

UPDATE (week ending 01-Nov): Share price closed between 10 and 30 day MA's at the end of the trading week, with the share price successfully testing the support/resistance area noted in last week's comment. Charts suggest closing out the 'short' position from this trade, if not already done so (note the suddenly rising RSI and waning negative momentum on the DMI/ADX indicator).