0KBU trade ideas
Probable OMER breakout, entry point for a long term positionWith an approved product (Omidria) seeing consistent growth and with shares at bargain prices OMER is a high risk high reward biotech opportunity. The pipeline is deep but catalysts will not be seen in the short term. This is a good entry point for a long term position.
OMER - Potential Flag formation Long from $22.24 to $24.83OMER was a beautiful flag pattern & we had a wonderful run with it from $20 to $27. It seems forming a flag pattern again. We think it has good upside potential if it can break out $22.23 area.
* Trade Criteria *
Date First Found- July 20, 2017
Pattern/Why- Potential Flag formation
Entry Target Criteria- Break of $22.23
Exit Target Criteria- $24.83
Stop Loss Criteria- $20.67
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Omeros consolidates at strong resistanceWhile trading within a well defined trend, touching the resistance of the trend the stock rushed down and currently consolidates with a low change (compared to the previous 2 day selloff) at a strong resistance point. Should resistance hold, it is possible to break up to 19. As Vince noted, once it broke off the 14 range, it went straight up to 18. Yet still, the price may go lower to the trend support at around 11.