Stock Chart Analysis OMCL

Posted by downtowntrader | 12/02/2007 09:36:00 PM | 0 comments »

Stock Chart Analysis OMCL

Omnicell, Inc. (Public, NASDAQ:OMCL)

OMCL recently broke out to all time highs, but ended up retracing the whole breakout. While this is not normally a bullish sign, the fact is that it did end up holding support and it has been forming a base over previous resistance. The small base it has been working on looks like a reverse head and shoulders with a projected target over 30 if successful. It looks like a close over 27 would seal the deal so I am watching to see how it handles the 50 day sma as resistance.

Good Trading,


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