Good Morning!
I’ve got good news and better news. OOIL added another 16% to our win streak yesterday -- GOOD -- and we get to trade it again today. BETTER!
If you missed OOIL yesterday, cheer up. This stock has a track record for taking 4 or 5 days to peak when it really gets grooving.
Of course, if you grabbed the first beats of the OOIL bonanza and already made your bank, history says there’s still juice in the party for you too!
Check the chart and follow along:
I went LONG on that one to give you a sense of what OOIL has done in the past with the right technical lift and where it can go for us now.
In the last few months, whenever the RSI has ticked above 50 (like yesterday), you can see for yourself that the bulls usually ran a while.
Usually the fun has lasted around a week if not longer before OOIL peaked . . . often 50% to 60% above the bottom!
That big green circle is an exception because that was an unusually HUGE news day, when OOIL changed names and refined its focus.
On that one, the fun only lasted two days, which still implies that we could see more action on this ticker when the bell rings this morning.
As I mentioned yesterday, volume is solid, the old $0.04 “oversold” base now looks like a distant memory and the technical lines now point to “rally.”
And yesterday’s news is pretty impressive. OOIL is now making its water purification systems available for flood clean-up companies!
Those of you who’ve lived through a hurricane or power failure know that the pumping stations are vulnerable, so the taps run dry. (Read more)
Then there’s flood damage. The company OOIL is working with works overtime to handle backed-up rivers and worse.
OOIL is willing to make purification systems available to 1,800 disaster centers, probably via emergency truck response. (Read more)
Add it up, I think the potential here has barely been SCRATCHED. See you soon!
Sincerely,
Michael Reef
yourstockguy@gmail.com
