Aroon Indicator for OM.X shows an upward move is likely
OM.X's Aroon Indicator triggered a bullish signal on July 18, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 230 similar instances where the Aroon Indicator showed a similar pattern. In 178 of the 230 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 77%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 30, 2024. You may want to consider a long position or call options on OM.X as a result. In 78 of 103 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 76%.
The Moving Average Convergence Divergence (MACD) for OM.X just turned positive on June 30, 2024. Looking at past instances where OM.X's MACD turned positive, the stock continued to rise in 37 of 54 cases over the following month. The odds of a continued upward trend are 69%.
OM.X moved above its 50-day moving average on July 05, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for OM.X crossed bullishly above the 50-day moving average on July 06, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 76%.
Following a +20.89% 3-day Advance, the price is estimated to grow further. Considering data from situations where OM.X advanced for three days, in 251 of 332 cases, the price rose further within the following month. The odds of a continued upward trend are 76%.
