Opportunity In oOh!media

This story features OOH!MEDIA LIMITED. For more info SHARE ANALYSIS: OML

By Michael Gable 

As reporting season comes to a close, our market yesterday decided to give us a bit of volatility again. Our market "letting go" like that could be the first signs of some profit taking coming back in. Looking at the way the US has been trading with its complacency, and recent changes in the VIX, index watchers would want to be a bit more cautious now. In terms of opportunities though, another one that came out of reporting season was oOh!media ((OML)).
 

Last week's drop in the share price now makes the prior price action resemble a rising wedge. This means that OML could revisit the base of the wedge, which implies levels down towards $3.80. There is some support at current levels though, so it may hold here in the short term first. If any attempt to rally above $5 is met with selling again, then we would choose to wait for those sub $4 levels. If not, then we could follow the momentum higher.
 

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Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Michael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management, deals in all ASX listed securities and specialises in covered call writing to help long term investors protect their share portfolios and generate additional income.

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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