Omnivision Technology – A Tortured Stock Ready To Reverse?

Omnivision (OVTI) was a favorite stock for long investors from 2009-2011, until it crashed over 60% in the last year.  Since the stock's last major bottom in November 2011, it has traded in a relatively narrow range.  Now, traditional technical breakout signals are indicating that the stock may move from its current price near $15.50 all the way to the $25-$26 range.  Is the breakout valid?  Check out this ten minute video to see the technical analysis, discover the quality of the breakout, and when you may want to buy with both hands.  Happy trading!

 

Profile photo of MetroTraderMetrotrader (D) is one of the few practicing CMTs (Chartered Market Technicians) in the United States . The CMT certifies his knowledge of market timing and risk management approaches. He tends to look for broad market moves and take advantage of them with index funds. The strategy he principally uses is mostly quantitative, and, tested, and has avoided or capitalized on every major recession since the 1940s. He says the best way to make money is to avoid losing it in the first place.

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