Monday, October 29, 2012
Osim: despite today’s pullback, the stock continues to feature good momentum, having recently made new 52 wk highs on good volume, and breaking out of the key $1.50 resistance-turned-support. The pullback is not unexpected given that the indicators are displaying overbought conditions. Longer term, technical outlook remains positive with the key moving averages all tilted upward. A break above the near term resistance at $1.60 may see the stock move quickly to test the $1.70 level next.