OTLY: A pure technical analysis or future acquisition play. While the company is unprofitable and only has about 1 year left of cash, the bottom "may" be in... unless an offering is announced (tread lightly). But my historical simple moving average (SMA) is approaching the price. Typically, when this happens, there is a sudden jump in the price to "meet" the SMA. It may take weeks or months, but for a pure gamble, odds are in my favor (again, unless bad news emerges). Thus, at $0.64, OTLY is in a personal buy zone.Target #1 = $1.00
Trade closed manually
Closed out of positioned near entry for a tiny gain (post-split). Too much financial weakness for a longer-term hold. Better options exist.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.