OMG - Gearing up for a breakout? Over 200% Potential Long Term.

Looking at OMG on the daily Chart, there's some interesting things potentially shaping up.

Most obvious is the descending triangle we've been trading in. OMG trades on a bullflag historically; which is characterized by a long period of sideways or slightly descending movement followed by a massive pump.

We see a fairly recent retest of bottom support in late september which held strong.

We have steadily increasing volume, however the biggest spike was on a retest of the upper channel boundary that was rejected, marking a decent red day.

RSI is very middling at the moment; could go either way with current priority being up.

Bottom line: good indicators for a breakout coming at some point in the next few weeks, however the heavy sell volume on the upper boundary retest makes me think we might see a lower support retest like in September before things really start cooking.

Wait to see if we retest or if we can break through that upper boundary without a swift rejection.

Short term TP's are green fibs, potential for ATH or more when the bull flag pops.

Thanks to everyone for the support over the last while, let's keep this going :)

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Kommentera:

2/3 Conservative TP's Hit :)