traderprosignals

OPTT BUY/LONG NOW READY! 2.30 to 2.40 by ARD DEC21

Long
AMEX:OPTT   Ocean Power Technologies, Inc
TICKER CODE: OPTT
Company Name: OCEAN POWER TECHNOLOGIES, INC
Industry: US Stocks Producer Manufacturing Electrical Products

Position Proposed: BUY/LONG

Entry: 2.30-2. 40
1st Partial Take Profit: 3.55-3.60
2nd Partial Take Profit: 4.10-4.15
3rd Partial Take Profit: 5.10-5.15 (~Dec 2021)

Stop Loss: 1.75-1.80

Technical Analysis
1. Descending wedge / Pennant (completed and broke out)
2. MEGAPHONE forming at a bigger time frame
3. 1st Partial Take Profit will be at next major structure level & Fibonacci retracement at 0.786
4. 2nd Partial Take Profit will be at the next major structure level & Fibonacci retracement at 0.618
5. 3rd Partial Take Profit will be at 100% of flag pole length