$OCEA Undervalued Stocks Ready To Bounce
No stranger to parabolic runs, Ocean Biomedical, Inc. (NASDAQ: OCEA) stock could be poised for another one this week as the stock is set to be officially included in the Russell 2000 Index on June 26. Such a run could occur due to institutions benchmarked to the Russell 2000 automatically buying shares of OCEA. For this reason, OCEA could be one of the undervalued stocks to watch closely this week in anticipation of a run.
OCEA Fundamentals
As things stand, OCEA is set to be officially included in the Russell 2000 Index on June 26. This catalyst may have short and long-term implications for the stock. First and foremost the stock is likely to run as a result of a phenomenon known as The Russell Effect. This phenomenon usually occurs with stocks newly included in Russell 2000 as funds that are benchmarked to the index will automatically purchase shares of such a stock – leading to a run due to the significant buying activity.
In terms of long-term effects, OCEA is set to experience a drastic increase in visibility which could lead to more trading volume due to an influx of new investors. Considering OCEA’s extremely low float of 3.7 million, the stock could witness strong runs on news.
Furthermore, Russell’s stamp of approval increases the interest of institutions in a stock, and as a result, more institutions could seek out OCEA stocks as an investment. Overall this inclusion could potentially cause OCEA stock to reach new heights due to a flux of investor and institutional interest – which could make it one of the undervalued stocks to watch this year.
Technical Analysis
OCEA stock is in a neutral trend and is trading in a sideways channel between $5.90 and $6.85. Looking at the indicators the stock is currently trading above the 200, 50, and 21 MAs. Meanwhile, the RSI is neutral at 64 and the MACD is approaching a bullish crossover. It is worth noting that OCEA recently broke its resistance and is yet to confirm breaking its sideways channel. Moreover, there is a gap near $5.35 that has to be filled.
As for the fundamentals, OCEA has a major upcoming catalyst in its inclusion in the Russell 2000 Index on June 26 which could see the stock soar due to the Russell effect phenomenon. For this reason, investors could wait for a confirmation of breaking the resistance before going long on OCEA stock.
OCEA Forecast
Given the stock’s history of major runs, OCEA could be shaping for a similar run this week upon its inclusion in the Russell 2000 index mainly due to the Russell effect phenomenon and the increased institutional interest accompanied by being included in Russell 2000. Additionally, OCEA has an extremely low float that allows it to run quicker on high volume, and considering the expected volume it might witness, the stock could soar to new highs. All of this makes OCEA one of the most intriguing undervalued stocks to watch closely this year.
OCEA Fundamentals
As things stand, OCEA is set to be officially included in the Russell 2000 Index on June 26. This catalyst may have short and long-term implications for the stock. First and foremost the stock is likely to run as a result of a phenomenon known as The Russell Effect. This phenomenon usually occurs with stocks newly included in Russell 2000 as funds that are benchmarked to the index will automatically purchase shares of such a stock – leading to a run due to the significant buying activity.
In terms of long-term effects, OCEA is set to experience a drastic increase in visibility which could lead to more trading volume due to an influx of new investors. Considering OCEA’s extremely low float of 3.7 million, the stock could witness strong runs on news.
Furthermore, Russell’s stamp of approval increases the interest of institutions in a stock, and as a result, more institutions could seek out OCEA stocks as an investment. Overall this inclusion could potentially cause OCEA stock to reach new heights due to a flux of investor and institutional interest – which could make it one of the undervalued stocks to watch this year.
Technical Analysis
OCEA stock is in a neutral trend and is trading in a sideways channel between $5.90 and $6.85. Looking at the indicators the stock is currently trading above the 200, 50, and 21 MAs. Meanwhile, the RSI is neutral at 64 and the MACD is approaching a bullish crossover. It is worth noting that OCEA recently broke its resistance and is yet to confirm breaking its sideways channel. Moreover, there is a gap near $5.35 that has to be filled.
As for the fundamentals, OCEA has a major upcoming catalyst in its inclusion in the Russell 2000 Index on June 26 which could see the stock soar due to the Russell effect phenomenon. For this reason, investors could wait for a confirmation of breaking the resistance before going long on OCEA stock.
OCEA Forecast
Given the stock’s history of major runs, OCEA could be shaping for a similar run this week upon its inclusion in the Russell 2000 index mainly due to the Russell effect phenomenon and the increased institutional interest accompanied by being included in Russell 2000. Additionally, OCEA has an extremely low float that allows it to run quicker on high volume, and considering the expected volume it might witness, the stock could soar to new highs. All of this makes OCEA one of the most intriguing undervalued stocks to watch closely this year.