$OM Experiencing a Sharp Decline: Reversal or Continuation?
$OM is trading at $3.7203, reflecting a 6.74% drop in the last 24 hours. The 15-minute chart reveals increasing bearish momentum as the price approaches the $3.6755 support level. This level is crucial for determining the next move, with resistance at $3.8500 acting as a potential recovery zone. A good entry point for traders eyeing a rebound is around $3.7000, with a stop-loss placed at $3.6500 to minimize downside risk.
The RSI indicates oversold conditions, suggesting a possible short-term bounce, but caution is advised as the MACD highlights continued bearish pressure. Monitor closely for any signs of volume changes or momentum shifts.