OGN Harmonic: Monthly Deep-Crab
Updated
Organon & Co. is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. OGN has a moderate quantitative fundamental score (Greater than 5) with good analyst prospects (Buy and Hold ratings). Furthermore, OGN has a minor dividend pay out @ 0.56 per share/year (2.3%). Therefore, this OGN long play has moderate value at this price-level (24.72).
In this idea, we have a deep-crab pattern reversal and two price targets. I set the stop-loss for 3.32%; however, I'd consider carefully averaging into a position on this trade, if price goes below the stop (I don't expect it to). Once the 0.382 target is acquired, I will sell half of my position and set the stop-loss to trail the position by the 'Average True Range'. Once price has reached the 0.618 target, I will sell the other half of my position. The first target nets 18.2% and the second target nets 34.1%. Averaging these percentage gains out and adding for the dividend (I expect to hold this for at least half-a-year), one would profit approximately 27.2% of their original investment.
Good luck and trade safely!
In this idea, we have a deep-crab pattern reversal and two price targets. I set the stop-loss for 3.32%; however, I'd consider carefully averaging into a position on this trade, if price goes below the stop (I don't expect it to). Once the 0.382 target is acquired, I will sell half of my position and set the stop-loss to trail the position by the 'Average True Range'. Once price has reached the 0.618 target, I will sell the other half of my position. The first target nets 18.2% and the second target nets 34.1%. Averaging these percentage gains out and adding for the dividend (I expect to hold this for at least half-a-year), one would profit approximately 27.2% of their original investment.
Good luck and trade safely!
Note
Price touched off the fair value gap, expecting at least a 50% pull back at minimum.Note
Price returned to the order-block for a perfect re-entry. Should have been watching this one!!!Note
I have re-analyzed this stock and, after hitting our targets respectively, there is a better entry lower than the one pictured here. I will post the new analysis and re-entry later. GL and trade safely!Note
Here's the new entry ~
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