If you're following from my last two posts on OMG, today's chart is not looking all that great, but does show signs it might be leveling out and reversing.
To recap, I had two trend support lines on my chart and OMG punctured through both supports. This is one to continue to watch closely in the next few days in case it develops into a runaway descent like NEO has recently done.
The one good thing I'm seeing on today's chart is the fact that the MACD crossed over and begins to curl upwards in a bull sign. However this is weak altogether when considered in conjunction with Ichimoku signals being strongly in bear territory. The price action is below Kumo and it's signals and the well below all EMA's, the 20, 50, and 200.
I am watching closely for the moment and may opt to bring OMG out of cold storage for a SELL and wait for further descent before buying back in.
