Replies to post #30909 on lowtrade

[lowtrade]

Great you are trading logically. Things to concider. It took 5 months to form and visually could take a month for any handle retrace. Thats 6 month before the cup & handle pattern may reach any new chart pattern target and it's a PINK.

TIP: the time it takes to reach a chart patterns target, can equal the time it took to form the pattern.

Hard for me to think a 6 month long term OTC chart pattern will act like one on the big boards. There aren't fundamentals for long investors to have interest and OTC pennyland stocks don't do well reaching long term chart patterns.

All this said Technically the chart shows a good long term investment play, if the handle forms and it breaks out above top resistance again. I personally just wouldn't trust that as much as on the big boards. And I'm not a long term guys anyway.

Just saying, you want to play that game, look for a big board long term cup & handle. I don't like the odds for that pattern reaching target on an OTC stock or the time which may be involved.

[Triple_Crown]

OMVE: my 2 cents worth...

It is not a cup and handle as that happens in an uptrend. Having said that, it is a cup fill and the pullback should have been expected @ .40.
Nice exit BTW.
What it does look like is an Adam and Eve double bottom.
I have not looked at any fundamentals as the candles should tells us enough.
It appears that the release price or IPO or price at time of an acquisition, RM, etc etc. was in the .40 range.
Here is the 2 year chart:
http://stockcharts.com/h-sc/ui?s=OMVE&p=D&yr=2&mn=2&dy=0&id=p23928299822

Many stocks have a grand opening spike (awareness campaign buyers), a very exciting time for companies. Then they start the process of finding their true value (in the eyes of the public). You may know all that information, I include it for others that may read this.

Anyhow if it acts as an Adam and Eve should, Then a target price of .735 could be expected. That's a price climb above the .40 equal to the depth it went below .40 to .065.
If it does start climbing then the chart target price also puts it near the double top area. Usually a good time to sell.

This post has some speculation in it and I am open to correction.
I'm actually looking forward to seeing this play out. Thank you for sharing it.
BTW a breakout on an Adam and Eve is when it closes above the neck line and it did do that on April 18th. Also the pullback had more volume than the peak.

[jwez]

OMVE was a Promo play that should be ending. Can't believe it's held so long. Day trade only, if you know what you're doing, and know how to play promos, IMO. Bottom could fall out any day.

http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=21511&srchyr=2012&SearchStr=Promo