LT Matt good post. I share the same belief that 50 dma is the best place to add. It has held support here since this uptrend started and as long as it holds OMOG should do just fine.
OMOG traded a few days over .03 and then there was a huge down volume day to break below 10 dma without any kind of bounce. That right there is a sign of big money getting out. TC and his crew run this stock and they probably unloaded heavy on the last spike and on the way down. Anyone notice how volume completely dried up after that when OMOG tried to bounce over .02? They didn't want to support the stock because they knew that with no follow through panic would set in and they could take the PPS down where they wanted.
50 dma seemed like a logical place as they had supported OMOG there for months now. Friday OMOG traded almost 150M? close to 100M thursday? Almost all right around 50 dma? I bet these guys took some huge profits and loaded back up for 1/2 the cash.
Slow stochastics are way oversold now. RSI still hovering right below 50 and with any upward movement it'll go 50+ which would be very bullish. Looks like OMOG will have a higher low today than Friday. 5 day moving average is now down to .0165 and it'll go even lower tomorrow. If OMOG breaks .016(5dma) tomorrow it should start bouncing back fast. Probably to around .021-.022 area. 10 dma ir right above that and that will also offer some good resistance. 5 dma should start coming up though, offering new higher support if OMOG pullbacks. Then on the next upswing OMOG can hopefully break 10 dma and go for .03+. Technicals are finally starting to look really good. JMHO
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