Watching for a break above $14.75. nice base consolidation here. Former runner. Ascending wedge pattern. 10, 20 and 50 EMA forming a nice floor for a stop loss. See if it holds $14 or not. No position yet.
Risk: biotechs normally I avoid, but this has a nice pattern. Also on guard for any overall market weakness which will probably negate this as a potential...
Omeros has been consolidating after breaking out of its long downtrend, but looks set to make a new attempt to move upwards, coinciding with a strong move in the $BB etf.
Needs volume of trade to confirm this move, while investors are waiting for a list of catalysts to trigger interest.
Omeros has been through a rough patch with shortsellers in full control, coming down from a swinging high last year.
With recent good news on several fronts, $OMER is trading well above longtrend, and looking to fully confirm breakout.
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement tracking trend oscillators as below:
Price is likely to move within the parallel channel having the potential to break it down.
CCI double top divergence waiting to break down the zero level.
DETAILS ON THE CHART
NOTE: Entry range area above...
With an approved product (Omidria) seeing consistent growth and with shares at bargain prices OMER is a high risk high reward biotech opportunity. The pipeline is deep but catalysts will not be seen in the short term. This is a good entry point for a long term position.
OMER was a beautiful flag pattern & we had a wonderful run with it from $20 to $27. It seems forming a flag pattern again. We think it has good upside potential if it can break out $22.23 area.
* Trade Criteria *
Date First Found- July 20, 2017
Pattern/Why- Potential Flag formation
Entry Target Criteria- Break of $22.23
Exit Target Criteria- $24.83
Stop...
OMER has been testing the resistance area overhead, it's also starting to consolidate around the 52 week high. If this gets some legs tomorrow I'm going to be watching for a breakout through the 16.50's area for a run
Long
Run after ER always has been too good and we are very close to ER.
If it break the middle trend line the next stop can be @ 14
Note the Golden cross today...
Have to keep above 9.50 and virtually no stop after 11.30
bullish signs: breaking bearish trendline, small cup and handle formation. Look at the price of historically before and after ER.
bearish signs: lower volumes, dipping 50 ma below 100 ma
OMER has completed an AB=CD pattern with the last drop. Now it has a good news that could drive this stock to the upside. First potential target 9,08 second target on chart.
Omeros Corp. operates as a biopharmaceutical company. It engages in the discovery, development, and commercializes of both small-molecule and protein therapeutics for large market. It also offers orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system. The company was founded by Gregory A. Demopulos and Pamela Pierce Palmer on June 16, 1994 and is headquartered in Seattle, WA.
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OMER
