When I first recommended OPTT back in October of 2020 in the Webull and Chill group, I only cared about one thing, the stock just spiked over 27 million in volumes on 10/5/2020, which was quite sizable in comparison to its relative 3 months average volume and for day-traders, this is gold. Just one day before, it was running a mere 1 million trade and the green candle on the 5th had virtually no shadows. It was a strong bull! Buy, continuation was on the way!
That week, the stock went to a high of 3.72 before eventually taping off 2.27 in November. Since then, the stock has continued its pattern of finding new highs and new lows and pushing towards a very narrow squeeze at its latest new lows of $2.54 on January 6th, 2021.
Given that we have identified at least 3 LL (lower-lows) and 2 HL (higher-lows) against this upward trend, it seemed like a good time to now enter for the new HH.
Not everything lines up though, peering into the Ichimoku Clouds, the 4 hour and Day level is screaming don’t trade! Hoping to find some dissent, I looked into the 1-hour level only to reveal a continuing down-trend. Today, neither the clouds nor the big MAC-D gave me any comfort in support of my call.
Despite the dark clouds, I went in, making a calculated risk with the old adage on my side, “history always repeats itself.”
If I am right, not only will history repeat itself, but the repeated pressure of history could result in an enormous breakout in the direction of the desired change.
The case of OPTT, pressure is boiling and the waves are building up. The time to get in is now, or risk falling behind.
Ocean Power Technologies is also riding on the wave of clean energy vibes brought on by the incoming administration of Mr. Joe Biden. It caters to four major markets oil & gas, communications, security & defense, and science and research. Oil and gas offshore exploration is not going away, and probably not another 30 years into the future. Security & defense will always find buyers, while the science and research market promises its relevancy to future markets with greater interests in oceanic studies and exploration.
The Future
Looking at the company’s financial data, we can also see a yearly increase in the EPS, earnings per share, from 2016 to 2020, the burns of your investment on each share rapidly decreases from year to year – this stock is at its cross-road of being in the final moment of turning true profits. It is a rare gem to find. When I finally sell this off from my short term trading account, I will look forward to adding this to long-term investment ROTH.
All I hear is cha-ching! I hope it gets on your radar, check out their website to learn more. It was merely a day-trade interest for me 3 months ago, now I’m pretty convinced this needs to go in a long portfolio.
disclaimer: I am not a professional finance advisor. Nothing written in here should be taken as financial advice, but as educational complementary information to supplement your own research. Never invest on hype, never invest with money you are not comfortable losing.
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