Day trading pre-market open October 25, page-29

@RogerRamjet

RE: OVN from the aftermarket thread.

Ignore words like "accumulating" and "distributing". The only thing that matters is trend and whether it can make you money.

In the case of OVN it has broken a strong bullish uptrend by crossing the trend line which is also the 38.2% fib level.

Strong negative divergence (higher price, lowering MACD) indicates weakness on the upward moves.

The dark-green line is the 150 SMA and the yellow is the 200 SMA - This is suggests healthy bullish momentum, which to me is a kind of indicator that suggests it's safer to buy and hold for the future.

I would have the 200 SMA and the 61.8% as buying targets. Anything higher is too risky because it's no longer in the short-term strong bullish phase, and your chance of holding a loss are higher.

I wouldn't be holding OVN right now. I would sell and rebuy later. I know nothing of the stock other than it's charts, and it's not financial or trading advice.