From a technical perspective, OMER is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending badly for the last two months and change, with shares dropping from $11.85 to its recent low of $5.08 a share. During that downtrend, shares of OMER have been mostly making lower highs and lower lows, which is bearish technical price action. That said, OMER has recently started to bounce off that $5.08 low and move within range of triggering a near-term breakout trade.
If you're bullish on OMER, then I would look for long-biased trades if this stock manages to break out above some near-term overhead resistance levels at $7.12 to $7.35 a share and then once it takes out more overhead resistance at $7.91 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 205,882 shares. If that breakout hits soon, then OMER will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $9.17 to $9.95 a share.
Live NationOne entertainment player that insiders are loading up on here is Live Nation (LYV). This is a producer of live music concerts. Globally, the company owns, operates, has booking rights for and/or has an equity interest in 128 venues, including House of Blues music venues and prestigious locations. Insiders are buying this stock into modest strength, since shares are up 14.7% in the last three months. Live Nation has a market cap of $1.88 billion and an enterprise value $2.82 billion. This stock trades at a cheap valuation, with a price-to-sales of 0.33 and a price-to-book of 1.24. Its estimated growth rate for this year is 19.6%, and for next year it's pegged at 73%. This is not a cash-rich company, since the total cash position on its balance sheet is $783.67 million and its total debt is $1.75 billion. A beneficial owner and director just bought 1,670,379 shares, or around $15 million worth of stock, at $8.98 to $9.31 per share.
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