OMNI

[ScottishTrader]

OMNI took a day of consolidating Thursday's gain on Friday, but held up above 9.90 support.  I think this bodes well for next week, and anticipate further accumulation ahead of their earnigns report.  They still haven't set a date for it yet, but as far as my memory serves me, OMNI have a habit of surprising the market with their ER's, often simply releasing them without prior warning, and sometimes intraday, like they did with their 07 guidance.

Technically, Thursday's breakout remains significant, and I think this will start the run that sees OMNI break out of the large symmetrical triangle pattern over the coming months as the stock moves to reach fair value and gains further market exposure.

[labatts6254]

ScottishTrader,

Thank you for the recent update on OMNI, it looks very promising.  I made an investment today; I felt it was necessary to get on-board before an unscheduled ER is announced.  If the Q4 earnings surprise we could see another nice pop in the PPS.

Looking at the chart, I think this gem is only in the early stages of warming up!

Cheers,

[422fwhp]

OMNI took a day of consolidating Thursday's gain on Friday, but held up above 9.90 support. 

Nibbled a little @ $9.55 for a low risk trade.  Closed at about the half the BWC from the previous b.o.

GLTA...Jody

[ScottishTrader]

OMNI broke down from an ascending triangle on the 30 minute chart yesterday, having failed at 10.60 resistance.  Looks like it could continue with its range-bound movement.  I'd like to see 10.05 support hold here, but below that there is also support at 9.88-90.  Obviously a retrace and break of 9.50 would be pretty bearish for OMNI.  I don't think the fundamentals warrant it, but, as we know, the market can play some nasty tricks....

[422fwhp]

...but, as we know, the market can play some nasty tricks....

And I usually fall for them too!

...bastards!

[Holygrale]

Powerful move forming IMHO! Im in at $9.95............

[ScottishTrader]

yep, I missed it while it wa basing, I think now I wqould like to see a break of 10.25 to get long.  I still think OMNI is undervalued, and has tremendous potential going forward, but the way in which it totaly stalled and then fell apart last month makes me tread cautiously here.

[Lucas Scott]

My OMNI chart below shows breakout of a bullish flag that formed over the past 10 months. A bear might see it as a double-top at 11.50.  Worth the risk I think to buy now at $11 or in the mid-high 10's and see what transpires. They raised guidance for 07 last week: http://biz.yahoo.com/ap/070517/omni_energy_outlook.html?.v=1

[ScottishTrader]

Well the bear case is right out the window - OMNI just made a major break out today above recent resistance at 11.60, punching and closing in the $12 range.  I think we could see a test of all-time highs at 12.60 this week - if not a break above there.  I've been bullish on OMNI for a long time, fundamentally the are a sound company, rapidly growing revs and earnings, and raising their estimates.  Technically, that is now bearing fruit.  As Lucas mentioned, OMNI broke out of a large symmetric triangle a couple weeks ago and after re-tesing support at 10.50 we are seeing strong continuation from that breakout. Today's move may also be on the back of a mention by Barron's over the weekend.  Whatever the case, I like the look of OMNI even more on both the short and long term time frames - keep an eye on a re-test of 11.60 resistance for entry.

[Holygrale]

Nice........... run should continue for awhile............She has a shot and $15 IMHO.........

[hellenkeller]

OMNI is reaching its 2 year resistance at about 12.50 with an ascending triangle should break out soon. I got in the Nov 12.50 calls 

[joet]

OMNI on SALE
Scotsman you buying here?  I have not reaserched the fundementals?  has anything gone south?  Are the big buyers worried that OMNI gould be negetively effected by hurricanes?  seems like that could bring them more business... hmmmm
Somewhere back in these pages Melf ELF thought that if OMNI tested support at 5.60 that would be a gift... HMM
I am still on the sidelines watching this one... tempted to start a pos here around 7   I will probably wait for a bottom to be established..
cheers joe

[joet]

We may see 5.60 on Omni soon??  Anyone keeping up with the fundys?
6.60 seems like a bargain if you have time to sit on it for a while.

cheers joe

[setravis]

updated chart look...

[setravis]

Nothing in a year,
That's how dead this place is!

updated chart look...