US Stock In Play: $OPY (Oppenheimer Holdings Inc)$OPY closed the Tuesday session at $41.71 (+1.19%) with a Bearish Spinning Top signal. The overall cumulative gain for $OPY since its breakout of a Bullish Flag pattern on 25th February stance at +13.88% in 9 days of trading session.
With $OPY currently trading at its highest implied volatility ($1.40/day) in 11 months, a near term correction within its volatility range above $38 price support region will maintain its potential trajectory towards recapturing its all time high at $56.94 (est 2007). The first immediate resistance for $OPY is at $48.
$OPY through its subsidiaries, operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia.
OPY trade ideas
Oppenheimer Holdings Technical Setup possible upside of 16%NYSE:OPY
Oppenheimer Holdings: ticker $OPY Possible upside of 16%, Earnings Report on 1/24/2018 Est .69, TTM vs Prior TTM 68.93%
After one month of consolidation under the 20 day sma, opy traded at twice the average volume of 160k shares having a 5.77% gain on the day paired with larger than average volume on the weekly chart.
Bollinger Bands: Tightened on 1/18/2018 with a following break out on 1/19/2018, may continue to ride upper band.
MACD (12,26,9)L Bullish crossing on 1/19/2018 at ~0.1771 after bearish crossing on 12/5/2017.
Moving Averages: Just crossed over 20 day sma after bouncing off 50 sma on 1/10/2018. Currently sitting at 4.86% above 20 sma, 6.52% above 50 sma and 47.34% above 200 sma.
RSI (14): Currently at 67.19
Resistance/Support using Fib:
Support Levels at 28.00, 27.45 and 26.60 levels.
Resistance at 28.80, 29.65 and 30.15 levels.
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