OOK - Charts. Bear trap complete, rally commencing

Good morning all,

Issuing a short-medium term buy on this stock, I think it's ready to go.

Context: IPO earlier this year, rallied pretty hard at the start, volume died off as it pulled back down to low 20s, and the doing it again recently, but this time with higher volume. More interest building at these levels this time around, always a good indicator that the next rally will be stronger than the last.

Chart: Medium term consolidation/wedge/flag with a support at 21, and a downward sloping line which is looking increasingly likely to break as volume builds now. What stood out for me was the old gap in early March which got closed in July before making a minor rally. It has tested the level again, actually breaking it by a tick, and immediately traded above the levels with strong volume. Classic bear trap to suck in sellers and soak up every seller. Loose stock out, tighter holders in, including myself.

Depth: bids outnumber offers 3-1, and just looking at the more relevant top 10 bids and offers, it's even more bullish...

Shorts: No short positions reported http://asic.gov.au/regulatory-resources/markets/short-selling/short-position-reports-table/
No short selling available from my brokers (inc. CFD)



Cheers and feel free to post your thoughts on this.