OMI Channel/Wedge Breakout
Maker of wide array of medical equipment seems to not have participated much in the Covid hype, my guess is it catches up.
Why do I make such a bold claim?
8 months consolidation atop 200 day MA with 200 MA beginning to slope upward
Upper trend of parallel channel now acting as support
Shorter term wedge breakout has occurred (actually a little late to the party with stock up 11% today)
RSI breakout appears to me to be set to occur upon break of longer term downward trend line, weekly chart shows 8 month RSI upside breakout imminent
Confident buy above $8, and especially if you see your other Covid PPE faves popping (
APT, 
LAKE, etc)
Of course the gap between $10 and $14 is something to consider.
Why do I make such a bold claim?
8 months consolidation atop 200 day MA with 200 MA beginning to slope upward
Upper trend of parallel channel now acting as support
Shorter term wedge breakout has occurred (actually a little late to the party with stock up 11% today)
RSI breakout appears to me to be set to occur upon break of longer term downward trend line, weekly chart shows 8 month RSI upside breakout imminent
Confident buy above $8, and especially if you see your other Covid PPE faves popping (
APT, LAKE, etc)Of course the gap between $10 and $14 is something to consider.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.