$OTRK potential ideanot financial advice - risk to reward good - keep tight stop loss as gap fill down below it. Potential upside gap fill. Not in but on watchlist.
−8.3830USD
−51.573MUSD
14.514MUSD
16.289M
About Ontrak, Inc.
Sector
Industry
CEO
Brandon H. LaVerne
Website
Headquarters
Miami
Employees (FY)
119
Founded
2003
ISIN
US6833733024
Ontrak, Inc. engages in the provision of data analytics based behavioral health management and integrated treatment services to health plans. It offers services through its Ontrak platform solution, which is designed to improve member health, and at the same time, lower costs to the insurer for underserved populations where behavioral health conditions cause or exacerbate co-existing medical conditions. The company was founded by Terren S. Peizer in February 2003 and is headquartered in Miami, FL.
$OTRKHuge volume day on the daily chart.
Massive down trend. Could be a signal of a reversal starting.
Classic bullish divergence confirmed on the weekly MACD.
Gap to fill @ $ 20.57.
Stop = Under $10
Target = $20.22 (Gap fill)
Stage Analysis Set Up - Text BookThis one is clean! Jus wait for it to break out of the Stage 1 zone and over the 30 WK Ma. Good Luck!
OTRK LongLooks pretty good on weekly and daily, climbing up after finding the swing low. Above most lower moving averages. The short interest doesn't really bother me as I still believe overall the risk reward is so good here people will take their positions.
Ontrak seems not to want to forget the prices of the pastThe company Ontrak has always proved to be an excellent partner for care centers, unfortunately in recent months one of their major customers has decided to abandon the contract with the company Ontrak.
This has led to a rapid decline in prices, but the company is proving to have a good basis to s
Ontrak looking very compressed with a big gap to fill.Just one for interest. I found it on a site that lists the top most shorted stocks and OTRK sites at around 40% short interest.
I'm wondering if there might be a short squeeze about to play out.
Bollingers are crazy compressed and there is a big 80% gap so even a small rise could be interesting.
Possible Short Squeeze? Float = 7.53M
Short Stocks = 3.26M
past 7 day trade volume average = 667k
Short Interest = 43.29%
Days to Cover = 4.88
Things to consider:
1. majority of shorts may have covered.
2. price was shoved up to $40 and still didn't trigger a squeeze.
3. price climbed 80% from the bottom before dropping
OTRK Gap fillLooking at the volume profile from the precipitous drop a few days ago, we can expect high volatility in this gap fill. Today it tested and broke above the gap bottom. Let's see how it plays out.
Short squeeze mini series # 30What Is a Short Squeeze?
A short squeeze occurs when a stock or other
asset jumps sharply higher, forcing traders who
had bet that its price would fall, to buy it in
order to forestall even greater losses. Their
scramble to buy only adds to the upward
pressure on the stock's price
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