After NASDAQ:OMP made almost 80% today , this analysis might prove helpful for people thinking about joining the bulls .I think although this stock is showing very considerable bullish strength , one has to wait now for a confirmation before buying .There are a lot of stocks that skyrocket for a short while and then price stops rising afterwards , so waiting for a solid confirmation is always appreciated to guide the decision making .
The first signs that would indicate that this stock would continue to go up is a clear break and close above the black line (the trend line) , but it's not untill we close with bullish strength above the green line (10$ area) that it would be very likely to continue to around the 13.85$ (the first blue line/first target) .It would be interesting at that point to watch how the market would act around that level because , if price succeeds to close clearly above the line at 13.85$ , price would very likely to continue up towards the 18.5$-19.5$ area at the blue box wich would serve as the second target .At that point it still would have the potential to continue up towards the 24$ depending , again, on how price would act aroung the blue box area .
The first signs that would indicate that this stock would continue to go up is a clear break and close above the black line (the trend line) , but it's not untill we close with bullish strength above the green line (10$ area) that it would be very likely to continue to around the 13.85$ (the first blue line/first target) .It would be interesting at that point to watch how the market would act around that level because , if price succeeds to close clearly above the line at 13.85$ , price would very likely to continue up towards the 18.5$-19.5$ area at the blue box wich would serve as the second target .At that point it still would have the potential to continue up towards the 24$ depending , again, on how price would act aroung the blue box area .