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Monday, March 12, 2007

OM shows signs of weakness today

Last week, I was able to ride the craze about OM. Today, OM was weak. Base on the chart, TA will see that resistance is at 0.022. Thus, last Friday when it hit the 0.022 a lot of people including me took profits.

With no pattern seen, I looked at the EMA - Yup it's above EMA but far away. Plus, the RSI shows that the stocks was overbought.

Too bad, was eager to get in the market. Hoping to make "tsupita" once more, so I bought 500k @ 0.022 and 500k @ 0.021. :(


Chris said...

hi abby, can you consider OM's performance today as a minor correction? since dropping to 0.017 last march 5, it has gone to 0.018, 0.020, 0.021 and 0.022. that was from tues to fri last week.

i also bought last thurs around 600k of 0.022 and today around 4100k of 0.02.

Abby Ongyanco-Lim said...

hi chris,
yes, i consider today's performance as a minor correction... and more or less expecting it to hit 0.016 or 0.017 again then it should bounce back.. or else im bearish.. and will cut-loss.. else im bullish and aiming a target price @ 0.029