OATLY Technical Analysis
Oatly, a Swedish company specializing in the production and marketing of plant-based food and beverage products, predominantly centered around oats, has been under heavy fire selling since IPO despite the overall growth of plant-based products and increased demand for alternatives to traditional dairy.
The chart above illustrates the OATLY stock price in a logarithmic scale, indicating a current attempt to break free from the descending channel established since July 2021. This breakout is anticipated to pave the way toward filling the open GAP within the $1.90's to $2.20's zone, from there, pull backs to hold above $1.30's and continue higher towards the $4 supply zone.
The chart above illustrates the OATLY stock price in a logarithmic scale, indicating a current attempt to break free from the descending channel established since July 2021. This breakout is anticipated to pave the way toward filling the open GAP within the $1.90's to $2.20's zone, from there, pull backs to hold above $1.30's and continue higher towards the $4 supply zone.
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