OLB - Software Application Tech Sector Swing Play
Updated
OLB has been forming a massive wedge on the daily around strong support. Current break of the wedge occured on volume and moved above the volume point of control, which is a massive support once passed. $5.70 would be risk if using POC. Below that if this is a false breakout without confirmation, risk is down to $5, due to the volume desert above the POC, its possible this moves quickly through levels matching previous highs. These sectors move hot, we have seen MRIN and AUUD.
OLB is a software application for businesses to manage online stores, I don't necessarily trade based on fundamentals, but I understand that this type of company will likely flourish as more businesses move to online, I am swinging short term due it it fitting market theme. Always do your own due diligence, manage your risk and learn to scale in and out of your positions.
OLB is a software application for businesses to manage online stores, I don't necessarily trade based on fundamentals, but I understand that this type of company will likely flourish as more businesses move to online, I am swinging short term due it it fitting market theme. Always do your own due diligence, manage your risk and learn to scale in and out of your positions.
Note
This peaked at 7.5 at the moment after a few days, nice almost $2 move off a low risk swing.
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