TICKER CODE: OPTT Company Name: OCEAN POWER TECHNOLOGIES, INC Industry: US Stocks Producer Manufacturing Electrical Products
Position Proposed: BUY/LONG
Entry: 2.30-2.40 1st Partial Take Profit: 3.55-3.60 2nd Partial Take Profit: 4.10-4.15 3rd Partial Take Profit: 5.10-5.15 (~Dec 2021)
Stop Loss: 1.75-1.80
Technical Analysis 1. Descending wedge/Pennant (completed and broke out) 2. MEGAPHONE forming at a bigger time frame 3. 1st Partial Take Profit will be at next major structure level & Fibonacci retracement at 0.786 4. 2nd Partial Take Profit will be at the next major structure level & Fibonacci retracement at 0.618 5. 3rd Partial Take Profit will be at 100% of flag pole length
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