OMCL showing signs of moving higher with a pocket pivot?
* Great earnings
* Strong up trend
* Very high 3-month relative strength in the Healthcare sector of 10.44
* Trading at higher than average volume creating a pocket pivot
* Trading in a tight range of ~5% range
* Little to no overhead resistance
* Has held up incredibly well during this correction with little to no downside at all.
Trade Idea:
* You can enter as indicated before the breakout from the range.
* This entry will net you a better risk/reward ratio but with the risk of not breaking out just yet.
* If you want to be conservative given the current market conditions, it may be better to wait for the breakout (a daily close) above $182.73 before entering.
Note/Caution:
* This is a pocket pivot entry and although it has little to no resistance, it may not break out immediately.
* Pocket pivots indicate institutional interest in the stock.
* Strong up trend
* Very high 3-month relative strength in the Healthcare sector of 10.44
* Trading at higher than average volume creating a pocket pivot
* Trading in a tight range of ~5% range
* Little to no overhead resistance
* Has held up incredibly well during this correction with little to no downside at all.
Trade Idea:
* You can enter as indicated before the breakout from the range.
* This entry will net you a better risk/reward ratio but with the risk of not breaking out just yet.
* If you want to be conservative given the current market conditions, it may be better to wait for the breakout (a daily close) above $182.73 before entering.
Note/Caution:
* This is a pocket pivot entry and although it has little to no resistance, it may not break out immediately.
* Pocket pivots indicate institutional interest in the stock.