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Thanks for your comments Greynomad73. Much appreciated.

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Zatso

2 Posts.

05/11/19

07:55

Post #: 41248728
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Originally posted by Greynomad73: ↑

Hi Jamiee - You could be right but I'd be looking for more evidence of a change in trend from a stock that has lost about 80% of it's value this year. The stock remains in a technical downtrend although it has broken above it this week - technically it needs to close for 2 weeks above trend to be a buy. Yes it has fallen 75% of the rise from the start of the current price cycle and that's usually where price will bottom. It made a head and shoulders pattern which suggested price should fall to about its recent low. Another possibility is that the blue dashed line could be a long term support line and price might be making a sub-wave 4 of Wave C before finally falling back to that support.
While a lot of this supports your theory that price will rise further (and I hope it does) I'd at least like to see some higher lows and highs on the weekly chart before diving in to a stock that has had such a sustained and significant fall.
Good luck with it and I'll keep watching for now.

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Thanks for your comments Greynomad73. Much appreciated.

OMH Price at posting: 51.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 40.0¢		Change -0.005(1.23%)		Mkt cap ! $306.5M

Open	High	Low	Value	Volume
40.5¢	41.5¢	40.0¢	$29.48K	72.73K

Buyers (Bids)

No.	Vol.	Price($)
4	16259	40.0¢

Sellers (Offers)

Price($)	Vol.	No.
43.0¢	2358	1

View Market Depth

No.	Vol.	Price($)
4	16259	0.400
1	1266	0.395
1	35000	0.390
1	20000	0.380
2	8500	0.350

Price($)	Vol.	No.
0.430	2358	1
0.440	5000	1
0.445	1592	1
0.450	10000	1
0.455	6528	1

Last trade - 15.50pm 08/08/2024 (20 minute delay)

OMH (ASX) Chart