OMI long if break 7Highest volume since break out yesterday.
If break 7 with volume - Buy
Tight stop loss at 6.90
OMI trade ideas
Buy OMI - 1D TFMA50 has crossed MA200 on daily TF. DC20 on the daily was broken to the upside yesterday whilst rejecting MA50.
On 1W TF price broke and retested MA50 and may be attempting to revisit next major resistance or 1W MA200 which are both quite aligned.
SL TBD however if daily candle closes below MA50 and MA200 and DC20 - this will trigger SL.
Thank you for your likes and comments! Please trade carefully and with money only you can afford to lose.
Bullish Move Upward Resistance at around $7, but MACD signals suggest bullish trend. If price slips to $7.10 pattern should continue on an upward trend. I may be wrong however, since I do see some sell offs at the top of the daily candles the last 3 days.
OWENS & MINOR INC STARTS TO TURNAROUND OMI has a great reversal of the bottom and indications are that there is more to come. We keep this tock on the watchlist for continued strong volume and alerts are set for a MACD crossing the xzero line.
AVERAGE ANALYSTS PRICE TARGET $4
AVERAGE RECOMMENDATION UNDERWEIGHT
SHORT INTEREST 22%
COMPANY PROFILE
Owens & Minor, Inc. engages in provision of services to the manufacturers of healthcare products, supplies, and devices. It operates through the Global Solutions and Global Products segments. The Global Solutions segment includes United States and European distribution, logistics and value-added services business. The Global Products segment manufactures and sources medical surgical products through production and kitting operations. The company was founded by Otho O. Owens and G. Gilmer Minor in 1882 and is headquartered in Mechanicsville, VA.
OMI Bullish Set up
I think a gap up is due and a new trend. Short term swing trade or swing long...Watching for breakout. Reversal here at Earnings time. What do you think?
NYSE:OMI
OMI- Fallen angel formation long from $20.26 to $23.46 & $26.46
* Trade Criteria *
Date First Found- January 10, 2018
Pattern/Why- Fallen angel formation
Entry Target Criteria- Current price ($20.28)
Exit Target Criteria- 1st Target $23.46, 2nd Target $26.46
Stop Loss Criteria- $18.76
Indicator Notes- good twiggs money flow accumulation
Please check back for Trade updates. (Note: Trade update is little delayed here.)
If you like it short better, OMI had strong follow thruOMI was also from our proprietary scanner and had a dollar profit range today. All of this set-up from the night before so you can prepare for the next morning at your leisure.
