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There was a sharp down-trend in OLN from December 7th, 2015 to the market bottom in mid February 2016.
Look to the far right on the chart, around $18.00 (follow the large red arrows). You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
I added a regression trend-line starting mid-February, 2016. A regression line is a "fit" which takes your data and predicts the direction. This is set at two sigma, or 95% of the trading action. As you can see, the trend has reversed and is UP.
Prices are trading above the thick red Ichimoku Cloud Conversion line. The thick red conversion line is also rising. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. The indicator on the top of the page is RSI / Stochastic , and this is very strong.
The top middle indicator is vortex and it is VERY strong (green over red). The Top (bar-type) indicator measures the "phase energy" of the stock, and this has turned EXTREMELY positive. I have purchased this stock.
I will close with a quote from my old math teacher, who said I would use this line many times in my career: "You want fries with that?"
I hope this has been informative, helpful, and entertaining. May all of your trades go well. Don.
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