Technical Analysis Alert for Odyssey Marine Exploration Inc. (OMEX)
Published on 07/19/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- Odyssey Marine Exploration Inc. shares have crossed above the 50-day moving average on heavier than usual volume.
The crossing of the stock price above the moving average may signal the beginning of a bullish trend.
Today, shares of OMEX rose $0.03(+2.59%) to $1.19. OMEX traded between the range of $1.16 - $1.24.
Today's trading activities for Odyssey Marine Exploration Inc. stock may be a sign that the shares will continue to head higher in
the foreseeable future assuming the moving average has upward slope.
Investor expectations change with time, and they often do so abruptly. The development of support levels is
probably the most noticeable and reoccurring event on price charts. The breaking through support levels can be
triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support
and resistance levels for Odyssey Marine Exploration Inc. are 1.15 and 1.23 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.
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