Decided to re-enter OMA today for a couple of reasons;
- Well being spudded next month
- The Tri-star transaction above market
- Technical setup
- BAS news + demand on market of late
- Post IPO hot money / holders that came onto the register via the convertible note that were exiting on market looks to be drying up!
Chart wise, it's hard to argue that the 18c mark looks to be an area of interest and once cleared will open the door for a move 20c+. Does a measured move take price action to 22.5c in the short term? Reverse H&S on the daily setup, time will tell.
Iam encouraged by the MACD positioning and price action breaking back above and sustaining the 43 day MA.
Weekly - medium term looks even more clear
OMA Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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