#Gold #WallSt Quite a few contenders have popped up in the “Me Too” stakes with Covid-19. It’s probably worth examining Omega’s website as they are not exactly new to the diagnostic game, a company with which we were already familiar due to their work in the allergen field. All it took was a global pandemic to make their share price “sexy” and of interest to traders!
We’re able to identify a key trigger level at 73.5p, our software assuring us movement above this level should produce results. At present, the share is trading around the 65p level, so it’s doubtless worth keeping an eye open in the days ahead.
Should the price exceed 73.5p, we’re able to calculate an initial target level at 87p with secondary, if exceeded, working out at a longer term (or next day in current conditions!) 93p. The secondary is especially interesting, representing a new all time high for the share and taking it into a region where we can present a distant looking 114p as the highest level we can actually calculate. Please remember, there is absolutely no rule inhibiting a share price bettering our “maximum” levels but invariably this will represent a point around which some turbulence is possible.
For it all to go wrong, we’d certainly raise an eyebrow if the price managed below Red on the chart. Despite present trading conditions often greatly diluting the effects of pretty trend lines, weakness below the 50p level would be a worry, carrying the risk of reversal to 38p and hopefully a proper bounce. The implications, should 38p break, calculate as dire and suggest something quite dreadful would need occur to justify our ultimate bottom number of 3.6p.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
7/09/2020 FTSE Closed at 5937 points. Change of 2.38%. Total value traded through LSE was: £ 3,081,866,920 a change of -35.14%
4/09/2020 FTSE Closed at 5799 points. Change of -0.87%. Total value traded through LSE was: £ 4,751,494,897 a change of 11.8%
3/09/2020 FTSE Closed at 5850 points. Change of -1.52%. Total value traded through LSE was: £ 4,250,184,579 a change of -2.94%
2/09/2020 FTSE Closed at 5940 points. Change of 1.33%. Total value traded through LSE was: £ 4,378,771,754 a change of -24.99%
1/09/2020 FTSE Closed at 5862 points. Change of -1.69%. Total value traded through LSE was: £ 5,837,308,187 a change of 19.78%
28/08/2020 FTSE Closed at 5963 points. Change of -0.6%. Total value traded through LSE was: £ 4,873,414,475 a change of 40.53%
27/08/2020 FTSE Closed at 5999 points. Change of -100%. Total value traded through LSE was: £ 3,467,869,882 a change of 0%
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