OEGOrbital Energy Group Inc (NASDAQ:OEG) deserves some attention as a potential bounce candidate. It is recovering from its bottom with MACD & Slow Sto moving upwards. If the stock holds above $2.87, the price may rise to the 3.52-3.7 range in the short-term. I have been accumulating this stock. Tremendous potential imho.
Oegstock
Orbital Energy GroupI see a potenial for OEG to rocket again soon, retest the trend channel and continue its way up towards my target price at 15$. The MACD indicator looks promising as the blue line gets closer to cross the orange one, the rsi indicator is low aswell which gives it room to run. I'm just a beginner but lets see how this ages:)!
OEG daily EQ right below two key monthly resistance levelsOEG daily equilibrium below two monthly resistance levels 9.42 & 9.88 (blue levels are monthly gold is daily levels)
$OEG - alternative way to look at itTo prove my point that there is more than one way to look at a stock. Some people may be playing with the level of this yellow line. A break above it would be a buy signal for some. A break above my consolidation from the previous post would be a buy signal for others. The trick is...which do you think is more valid? What are other traders looking at?
The reason chart patterns work is that they are self fulfilling prophecies. Others are all looking at the same patterns and entering or exiting based on rules that everyone agrees on. Just food for thought on a Friday.
As always, not investment advice. Just things I have learned along the way.
Have a great weekend!
