Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
We can take a look at OPTT on the Daily TF, which is currently sitting at the bottom of an ascending parallel channel. It has been on a health run for a while now. If we can hold this support we can most likely see a strong push to test the top of the channel, indicated with a percentage calculator and a white horizontal line. With that being said a ascending channel does have a bearish overall result in the end, so trade wisely. If the channel breaks we can see price touch one of the following supports shown in white. Their technology is very smart and in the long run I see this company being very successful.
This is not Financial advice.
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I agree! This is an extremely smart company. The concept of harvesting kinetic energy from the ocean is brilliant in my view. With market segments in North America, Europe, Asia and Australia, I see a tremendous opportunity coming to fruition with the emergence of green, renewable energies. Maybe this company was a little ahead of it’s time in 2007 when it’s shares exceeded $5,000, but if this technology succeeds going forward, shareholders should be generously rewarded. I took a position this morning at 2.20 after observing strong support at that level. Here’s long with OPTT. Thanks for the idea.