Buyers struggle to support price so another leg down may be on the cards

Potential Sell Entry Alert to Watch OML

Time Frame : Daily/Weekly

Sector : Media and Entertainment

Key Stats : $844.8 Million Market Cap, VWAP 3.584, ASX Ranking 258, 4 Week Av Turnover $3,646368, Current Turnover (Intraday as at time of alert) $523,813, PE 23.7, Div Yield 2.75%.

Company Overview : oOh!media Limited (OML) is Out Of Home media company. oOh!media provides advertisers with access to a diverse range of audiences across its national portfolio of Out Of Home advertising spaces throughout Australia. oOh!media is organised into four operating divisions : oOh!Road. oOh!Retail, oOh!Fly, Locate by oOh! and oOh!Edge.

Broker Consensus : BUY

OML – Ooh!media Limited

OML is under pressure which started when they delivered news of a drop in Earnings Per Share. At the same time, global markets fell apart into the end of 2018. Since then markets have recovered but OML has been stuck in a range from 3.40 to 4.10. We see the potential for further selling if buyers struggle to lift price from current levels back up to 4.10. If price holds a lower high and volume increases, we expect to see a move below 3.40 potentially to 2.00…especially if global markets come under further pressure.

Stock Code : OML – Ooh!media Limited

Company Website : www.oohmedia.com.au

Current Price : 3.57

Status : On watch for potential lower high and push down through 3.30