Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns. Trading the bull flag pattern helps you spot continuations in price and capture large price swings with ease.
At this moment, OTLC is trading above 2 key lines of potential support:
- 50-Day Simple Moving Average
- 100-Day Simple Moving Average
Why is this important? When a profile trades above these 2 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
RSI broke above 50 last month and is now at (54.21). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
According to the OTC Markets, OTLC has 376M outstanding shares.
Why a low outstanding shares is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released 2 big press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
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