Technicals is on the fence right now leaning towards that reversal I've been talking about. Tomorrow is an important day for deciding whether this reverses back up or continues to dip...
I might actually buy in here tomorrow depending on how I see it handle the test of tomorrow... I'll likely be buying the dips tomorrow though...
MA50 is still falling... Yes, it is starting to level out and pull out of a dive, but the decline is still there, just less steeply... If you analyze the mathematical reasoning, there is still about a weeks worth of days left to fall out of the MA50 that weigh into it favorably... As they fall out, if they're not replaced by equally ot more favorable days (right now this is not the case), then as each day falls outside of the last 50 days, the MA50 will fall... Good news is, as you can see by the MA50 reducing in the rate it falls, these days are not significantly responsible for holding the MA50 up... So as they fall off, the MA50 will fall, but not significantly...
When you look at it on the daily chart, the MA50 and MA200 are equal right now out to the hundredths decimal place both are at $0.07)... What this means is, since the MA50 is falling, and the MA200 is still rising slowly, the 2 will indeed cross, the MA50 WILL dip below the MA200, but not far below it most likely as long as the current PPS doesn't dip too much further (as these are the new days adding into the MA50 replacing the old ones)...
So the death cross (MA50 falling below the MA200) will inevitably happen... But as long as it doesn't trigger a sell off or panic, then the affects of this will not be great... Meanwhile the MA50 is slowly starting to shift momentum and pull out of its dive... Once it starts to turn up, it'll quickly reovertake the MA200 and that should spark some level of a breakout in the price action... That'll be bullish... The sooner the better too...
The MACD is starting to look bullish now too... The black MACD line is beginning to turn upwards and should soon overtake the red line... That's good, but it hasn't solidified this as the course it'll take, hence tomorrow is important to whether this stock reversals or not right here... It's on the fence, but I'd say leaning towards the reversal, I'd say a 70% chance we get thst reversal... The blue histogram MACD char also supports the potential reversal right here, but it too is on the fence leaning towards a reversal...
If this is the reversal occurs, then this trade area should be your rough floor... So if the reversal is confirmed, I would not expect to see this dip below $0.065... Hence why I'll be buying the dips tomorrow most likely...
The concerning thing is, there is low volume which is not helpful, and there is a fairly sizable (considering the low volume) resistance block on the ASK preventing this from going up... I've watched it show up throughout the day bounce around between $0.078 and $0.073... It's an easily be blown through if buy volume picks up, is not extremely huge, but it's roughly 15% that in size compared to current volume... And if it doesn't get blown through soon, it'll likely grow in size making it all the harder to get through later...
RSI looks fairly good...
Bollinger Bands, the lower one is being tested but it's holding strong... This could be a point the price bounces off the bottom and turns north... If that happens, that'll be good for the MA20...
So I'd say today OMVS could be turning the corner officially, I'll get more confirmation of this probably tomorrow...
I give it a 70% favorable chance now...
Hope all you who hate my TA are now more on board since I am starting infer that your chart I'd transitioning from bearish to bullish now...
If you read back though through all my posts here, I always inferred that... I always said this was coming up soon right after it endures a dip... So far I've been very accurate whether those want to admit it or not... Seriously, go back and reread what I've been saying, break it down, digest my points, and see how it had played out... I have not changed my stance or projection at all, my projection is just progressing through...
And I most certainly did NOT ever say we would hit $0.04... If you go back and reread what I did say, I said this should not fall below $0.04 in worst case scenario... I never said it'd happen that we'd touch !0.04, just that IF WE DID, it would not fall below that point... I've even said several times there are other support points above $0.04... Just that $0.04 was your strongest support point... Go loon for yourself... I get accuse a lot of that... But the issue is those accusing me did not read or understand what it was I said... So, go back and reread it for yourself...
(Please forgive typos, typed from my phone and I type fast but not accurate when doing do).
