Interactive Investor

Could this exploration share double?

19th July 2018 11:03

Alistair Strang from Trends and Targets

Given their catastrophic history of success and disaster, some research of this stock is warranted, argues Alistair Strang. Here's his sanest suspicion of potentials.

Odyssey Marine Exploration (NASDAQ:OMEX)

Seventeen tonnes of Gold & Silver Stolen! What happened next will shock you.

A Spanish government, too indifferent to search for a 200-year-old wreck, took Odyssey Marine Exploration to task and stole (some say) the results of their research and hard work.

And yet, still trading, is surely some sort of credit to Odyssey. The saga certainly provided compulsive viewing and also gave us an excuse to use a clickbait headline.

Whatever Odyssey is now up to appears to have piqued some interest in the marketplace as their share price has been forced upward on several occasions, since their Spanish Inquisition event. The entire episode tended to prove the notion of it not being worth fighting "city hall!"

Currently trading around $7.935, we shall be curious should anything now start them trading above $8.5, as this is very liable to force another upward cycle.

In the case of Odyssey, the implication is of future growth to $11.8 initially. At this point, things get a bit mushy thanks to the gaps in logical price movements, but we've a vague suspicion from such a level it risks being once again manipulated upward to the $14.8 level.

We can calculate beyond such a level but, for the moment, the sanest suspicion feels like the market intends $14.8 as the next major point of interest.

Obviously, given their catastrophic history of success and disaster, some research is warranted. The one thing visually in their favour is a track record of not giving up, doubtless with quite a lot of knowledge about the ocean floor.

We've painted a red line across the bottom of the chart. Anything now capable of driving the share price below $4 is liable to be extremely dangerous with $2.3 initially and secondary, if broken, rather far down at $0.20 - at best!

In summary, it's a bit of a whimsical share to write about, prompted only by curiosity as to "what happened next". We were surprised at them still being traded and also, the two circled areas as it appears the US market has a cunning plan for their future.

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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