OSIM: Started Correction

OSIM up trend has ended after breaking out from the uptrend channel. The stock is currently starting a correction after rejected at 20D SMA resistance twice. $2.00 will be a tough psychological resistance to crack. Next immediate support is $1.87 followed by $1.80 (about 200D SMA).


This Post Has 3 Comments

  1. Andre

    hey KK,
    Seems like it’s starting an uptrend again? i wonder if the chart can be interpreted as a double bottom, and has now broken out of it.

  2. Marubozu

    Can consider mini double bottom. However, OSIM will be facing the previous uptrend channel support turned resistance and also the previous high of $2.08. Not much upside potential. I will plan to short if OSIM is rejected at the resistance when there is reversal candlestick formed.

  3. Andre

    thanks for the input. will kiv. monitoring this counter.

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