Today, let’s analysis on OSIM.
1) A downtrend line from April top to recent low was breached as per graph. Indicating a buy breakout today.
2) Price close above $0.78 resistance for the first time after hitting bottom last week. Normally 2 consecutives close above resistance shall indicate a confirmation for valid breakout.
3) MACD histogram back to positive level with golden cross of MACD moving averages occurred.
4) Stochastic hook up from overbought and reaching 50% level.
Conclude from above points, we expect OSIM to be grounded at this level and any within $0.70~$0.78 would considered as a good entry by putting a proctective stop at a tick lower than recent low.
