Swing Trader

Good morning traders. One of the two trade ideas listed in today’s Bulls and Bearssection is Omega HealthCare Investors, Inc. (OHI). Please observe the chart below.

OHI triggered oversold signals as it came into prior lows yesterday. The stock did find support with the daily price bar forming a bottoming tail. We’re using yesterday’s price range to build our entry and stop levels around as noted on the chart above. The first target is the descending trendline from January highs.