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Ocean Power Stock Analysis: Ocean Power Technologies engages in commercializing proprietary systems that generate electricity predominantly by harnessing the renewable energy of ocean waves. Ocean Power offers the PB3 PowerBuoy which generates electricity by harnessing the renewable energy of ocean waves. In this Ocean Power Stock Analysis video, we discuss a macroscopic and microscopic overview of the company. We also establish levels of support and resistance for both investors and traders, analyze the 200 EMA (Exponential Moving average), 20 VAMA (Volume-Adjusted Moving Average), RSI (Relative Strength Index), bullish and bearish trends, technical analysis chart patterns, and potential entry and exit points for traders and investors.
Ocean Power Fundamentals: https://www.marketwatch.com/investing/stock/optt
Ocean Power Recent News: https://oceanpowertechnologies.gcs-web.com/news-releases/news-release-details/ocean-power-technologies-welcomes-three-new-members-its-board
Ocean Power StockTwits: https://stocktwits.com/symbol/OPTT
Ocean Power Financials: https://finance.yahoo.com/quote/OPTT/financials?p=OPTT
2 Free Stocks With $100 Deposit on Webull: https://act.webull.com/ve/L4WlkRlNSpq9/vvk/inviteUs/
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What is up, everybody welcome to trades trades, where we get technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks, i like the premise by saying that i'm not a financial advisor nor expert so take What i say with a grain of salt, the reason that i started this channel is because a couple years back, i was about 30 000 deep and some pretty bad medical debt, and i was very fortunate to have some close family friends and mentors that pushed me To work really hard, invest my money and i am happy to say that i am not only now financially free, but i'm living pretty well off at the age of 23 and guys i was not a finance major in college. I was not an accounting major. I majored in nutrition, so anybody can do this. I'm telling you right now, if i can pass along any of the information resources or tools that are given to me, make the community a little bit better off than it was before.

That's all guy can ask for. Lastly, if you wouldn't mind uh liking, the video really does help support the channel and consider subscribing if you'd like to see more content like this. As i do post videos every single day now, today we're going to be giving a uh subscriber requested stock. Ticker symbol opt ocean power technologies incorporated this comes from subscriber warm toast.

I like the name cool picture too. Can you go over opt? It looks like it's about to blast off. Well, do my friend this is today's sub requested video, let's eat, and i want to show you a comment that i thought was kind of funny. This has nothing to do with the video, but i thought you guys would get a chuckle out of this.

So let me find this real, quick, these hot girl, videos, man, that's really something to do. Go back up! Okay, here it is merbau says: can you try to speak even faster, good job holding along? Oh man, that made me laugh. I thought you guys get a kick out of that. I know that people tell me i'm rapping.

I need to slow down, but guys i just love what we're doing. I love the stock market. I get passionate. You have to give me a break.

Uh quick, shout outs to the guys over at the patreon. We did have quite a few new people join ollie, kenneth, jonathan ryan, work, nathan, young devil, michael train ryan finger size, toes interesting name, they uh. Thank you guys. So much really does mean a lot to me that you're supporting the channel they will have access to the private discord, as well as real-time insight to my personal trading.

So we're gon na be looking over opt-in, we're gon na look at their overall volume, they're uh. We've got the 200 period. Ema pulled up the exponential moving average, the va ma volume adjusted moving average 20 day period. We'll talk about what these mean.

We're going to talk about the overall bullish and bearish trends, the rsi relative strength indicator and we're going to look at this from a micro, macroscopic and microscopic point of view, establish some levels of resistance and support to watch for and before we get going. I just want to give a brief overview on what the company is so opt is a uh engages in commercializing proprietary systems that generate electricity predominantly by harnessing the renewable energy of ocean waves? It offers a pv3 power buoy, which generates electricity by harnessing the renewable energy of ocean waves. The company operates through the following geographical segments: north america, europe and asia and australia. So these guys are a clean energy.

Uh play right now and i do anticipate you know. Just based on recent events, uh plug power receiving a 1.5 billion dollar investment from a south korean company, but they are going to also benefit from the clean energy wave right now, and i think the only thing that's honestly holding them back is the amount of people That know about the company: only 29 000 people follow them on stock twits and they have been growing right. 80 message: volume, uh, increase 2.2 sentiment, uh an increase on price, and i would not be surprised if we do see this climb pretty steeply in the future. Now i do have their website pulled up and their most recent news release is talking about welcoming three new members to its board of directors.

I will leave a link to this in the description box down below, if you'd like to look at it more closely, but they are excited to welcome clyde diana and pete as new independent directors of the opt board. These new directors bring valuable expertise in offshore energy safety and finance and governance enjoying opt at an exciting time. So i don't know a whole lot about these guys in their background, but if they are solid um you know management. This should you know, increase the overall long-term value of the company and uh.

It's actually a good thing when you see a company bring in new management, because this indicates proactiveness and investors really love to see. That and i'd be willing to bet that if we go back to december 23rd on the charts - and we take a look at the price action on that given day that it was pretty solid - so let's see december 23rd - you do see an increase at that exact Time so a pretty pretty harsh and steep increase in the pre-market which you do love to see. So you know just right off the bat. Those are the fundamentals on opt, we're going to drop some levels of support and resistance to be watching for in the future.

We do have support sitting at 2.59, followed by you know i like this level, even better at 2.67. So if you're looking to get into this as a mid to long term investment, those will be the numbers to watch. For you know, we are up pretty drastically in the after hours in free market right now. So you know it's tough to say whether we're going to pull back or not um, but you know those are what we're looking at this given moment.

If you want to look at the uh the after hours in pre-market included, we are looking at a support level sitting at about three dollars and five cents just above. That is where we're trading right now followed by uh, two dollars and ninety four cents and then the resistance levels that we're going to be watching for touching in the free market. We do have three dollars and eighteen cents, which does line up very well with pre-market spikes in the pass of three dollars and nineteen cents and then uh the overarching level that you're gon na wan na watch for is gon na, be right around here. At about three dollars and forty cents, and if we can push through that, i would guess that we do see 350 375 four dollars within that same day, pretty easily.

It's looking really solid there now. Something that i find very interesting is the overall volume increase right. We are seeing there's some pretty heavy selling pressure at market open, but it does rebound very nicely uh, following on with that selling pressure and uh the rs, not the rsi, the 200 ema and the 20 day voma. You are coming very, very close to a crossover right here.

This is a key point to watch now. If you see the volume adjusted moving average, which is an overall valuation uh trend uh over a 20 day period on the given volume action on a stock. If you see that crossover 200 ema, which is a 200 day period, moving average trend valuation on the stock's price action, that is a very bullish indicator. So like right here, you see that we had the crossover that same crossover happen right.

If you had gotten in right, when the the volume adjusted moving average got over the uh, the ema right, you would have had a pretty pretty nice steep increase like you would have bought in at about two dollars and 45 cents. You could have sold out about 350., that's about a buck per share, you're, looking pretty solid, and if we do see that crossover on the volume adjusted moving average to the ema, i would expect to see some pretty intense buying pressure and a pretty steep climb in Overall price action, i i'm honestly betting, that's going to happen uh some point today so do be watching for that on the one month chart that is a very bullish indicator and the larger the gap between the the vomit and the 200 ema, the better off and The more bullish a stock is looking, so that's a very positive indicator. I do like how that's looking right now and another thing that i am noticing now that i'm looking at the stock is, we do have a wedge formation that was getting pushed through. So if we draw a trend line from the top right here of this resistance level and from the bottom of this uh support level, you know this is pretty solid candle wick, we do see a pretty solid compression and this honestly just squeezes price action right.

This is a this is a buying pressure. This is putting pressure on sellers and uh. Typically, it's a very bullish indicator. You can see that once we push through this trend line, it was off to the races right.

So that's a that's. A very solid bullish indicator to further validate and confirm, confirm why did i say confirm, confirm the bullish movement that we're seeing in the stock the rsi indicator. If we take a quick look, anything over 70 is overbought. Anything under 30 is oversold, and the relative strength index currently is approaching that 70 um rsi level and historically speaking, anytime, that we popped over that 70.

The correction has been you know in the short term, at least not too bad. You know in the mid 50s, a little above 50 so still approaching overbought territory. To be quite frank, so you know we do have this pullback right here, but this was not immediately after that. That 70 spike right.

So i'm not going to include that in the correction. The corrections don't seem too bad right. So as long as we see, you know that relative strength index bounce back really nicely to the 50 55 level. Uh, we're gon na be looking pretty solid for future bullish movement and honestly, i'm just really liking how this stock is looking right now this is a pretty nice chart.

Overall, if you look at the one month trend, it is bullish right. We do have a very solid movement up from this level right here, all the way up to where we're currently sitting at three dollars and 19 cents. So as a mid to long term investment. You are looking at overall growth if you got in at that.

Given time if you were able to ride through the waves and the valleys, the highs and the lows, it's looking pretty solid, we're stair-stepping very slowly, higher lows, higher highs looks nice and bullish. I'm liking, i'm liking. How that looks on the charts so be watching for the the volume adjusted moving average crossing over the 200 ema? If you were able to pull up a chart on your brokerage account, i personally use fidelity pro. I have been asked by quite a few people and it is free if you are interested in doing that.

If we move over to the one day one minute chart, we do have this crossover right here between the volume adjusted moving average and the 200 ema, which, in the short term, is a very bullish indicator and, as you can see, we have gone up pretty drastically. In the after hours and the pre-market, which is a very nice sign, so i'm definitely liking how that looks, we're going to establish some quick levels of support and resistance. We do have support sitting right here at about 2.69 and i will follow that up with another support level right around here in the regular market hours at 287, which did act as a level of resistance uh in the past. So we are going to consider that support at this given time and then, if we do want to include the overall price action that we're seeing right now in the after hours in pre-market.

We do have another support level sitting right here at about 2.95. So, that's you know, that's kind of where we're looking right now for a potential entry point if you're looking to get into this stock um i'd watch for a pullback. You know personally my my trading strategy. I try not to chase stocks unless it looks extremely bullish, and i know without a doubt that it's going to continue that bullish run based on some sort of news, catalyst or public relations right, but uh.

Getting in on a pullback is definitely your best bet and, just historically speaking, the stock usually sees a pretty harsh sell-off limit order sell-off at market open. So it is very possible that we do see a pullback to any of these levels and if you can get in at that given time, i think you're gon na be able to ride a pretty solid wave up um. It's it's looking very promising there. So you know current resistance levels if you're looking to short the stock uh personally you'd be you'd, be trading against the trend.

So just do be cautious. It's not a very long bullish trend right. It is about two days, but there are some indicators saying that we're pretty due for a pop-off here, so just based on how the charts are looking right. You'd be trading against the trend, so be cautious, make sure you're mitigating your risk, but three dollars and 17 cents as a potential entry point.

You know this stock does tend to have a pretty harsh sell-off at the beginning of the day, not guaranteeing that's going to happen again right. That's just the current trend that we've seen over the last week or so. But that is an opportunity if you would like to short the stock, so do be watching for that. Personally, if i was going to day trade this, i do not have a position in opt-t.

It will be completely transparent. These are my current positions: apx-t fuel cell jag, xle, mvis um. Personally, if i was going to day trade this stock, i would get in and long it. You know anywhere between 287 295.

269. You know watch for these support levels. I don't think we're going to approach 269. I'm thinking 287 is probably more realistic, so just be watching for a pullback to those levels.

You'll be sitting pretty nice, the overall volume we are increasing. I don't know if i said that earlier, but i will repeat that, and with volume comes extra volatility and volatility drives higher price valuations, and i actually really like this huge spike right here right. This 100 2 000 shares traded. It did form a really long candle wick, which is very indicative to me of buying pressure.

You know it's weak buying pressure, but we are sitting right in the middle here with some indecision, and this kind of volume typically means that something's about to happen right volume is a a characteristic of a chart to really pay attention to, because it indicates uh. Who is interested in a stock right? People like you and me, um, who are probably watching this video unless you're a millionaire or a billionaire we're not playing with a hundred thousand hundred thousand shares of a stock right? It's usually institutionals or big buyers right and big buyers know what they're doing they're, not they're, not gon na pump they're, not gon na pump a hundred thousand shares into a three dollar stock if they don't think it's going to go up so um. Personally, i i think that's very indicative. I, like the volume actually we're seeing on this, i'm liking the overall upward trend on the volume action, and i can see this continuing a bullish run so um.

That is my my uh analysis on opt. Thank you again to uh to the subscriber. You know i don't have it pulled up anymore, but thank you again to the subscriber for the recommendation. I will leave uh credit to you in the in the description box down below if you'd, like your ticker symbol, covered uh, leave a comment on the video and you will have a shot at the daily subscriber requested video.

I can't guarantee i'll get to you right. I only do about one a day, a couple more on the weekends, but you know it will give you a shot at a subscriber requested stock. So that is what i have for the video today. If you enjoyed it, please drop a like.

It really does help support the channel. Consider subscribing if you like, to see more content like this, as i do post videos every single day and lastly, i have an affiliate link in the description box down below for tubebuddy. Now. Tubebuddy is an seo optimization website that i personally pay a nine dollar per month membership fee for, and it is highly what i attribute growing from zero to three thousand subscribers in 22 days too.

So if you are a content creator or are looking to become one, it is a perfect tool to get your your videos into the eyes of your intended audience. And if you use my link, i will receive a commission which is a great way to support the channel if you're interested and if not, i just appreciate you supporting the channel by giving me your time. So that is what i have for the video today. Thank you for watching my friends and i will see you all next time.

Peace.

By Trey

21 thoughts on “Optt will go parabolic! // ocean power stock analysis subscriber requested”
  1. Avataaar/Circle Created with python_avatars Brandon Showalter says:

    Know your busier than ever Trey, just looking for a quick TA update

  2. Avataaar/Circle Created with python_avatars Gregory Rakestrau says:

    Just got finished watching this old video, do you still like OPTT stock as a good investment?

  3. Avataaar/Circle Created with python_avatars AKTV says:

    💰🚀

  4. Avataaar/Circle Created with python_avatars Scrippo says:

    yoo buy a better mic man, not hating just a suggestion. Great analysis

  5. Avataaar/Circle Created with python_avatars Jesseg0815 says:

    market watch have a price target of 1,200 👀 Thoughts? 🤔

  6. Avataaar/Circle Created with python_avatars jon schmid says:

    buy buy buy buy buy

  7. Avataaar/Circle Created with python_avatars Jeff says:

    It's a huge cup and handle on daily chart, a huge one

  8. Avataaar/Circle Created with python_avatars Nancy Chandler says:

    Where are Buffett, Musk, and Gates when clean renewable energy is up for sale?!!!

  9. Avataaar/Circle Created with python_avatars Nancy Chandler says:

    What’s better than clean renewable energy using the power of the ocean 🌊 ?!!!

  10. Avataaar/Circle Created with python_avatars Nathan Morford says:

    Cover $BNGO please

  11. Avataaar/Circle Created with python_avatars Casey McGuire says:

    Could you please address this (OPTT) again? No need for a separate video, but a mention so I know if I should still hold. Please.

  12. Avataaar/Circle Created with python_avatars sushi0085 says:

    pump amd dump stock…

  13. Avataaar/Circle Created with python_avatars Ollie gwilliam says:

    Hey man love your videos it helps a lot and it’s understandable , would you be able to look at VLS.L ✌🏻

  14. Avataaar/Circle Created with python_avatars soujy lucky says:

    Trey
    Can I get in at 2.83

  15. Avataaar/Circle Created with python_avatars Anticlimaxtv says:

    What is the software program you are using?

  16. Avataaar/Circle Created with python_avatars danxx friedman says:

    BKLLF?

  17. Avataaar/Circle Created with python_avatars James Molloy says:

    Can you review BSPK? I've had it for a year but today it is popping as of 8am.

  18. Avataaar/Circle Created with python_avatars Peter Stone says:

    Pro-Tip Fellow Treyders

    If you want Trey to talk faster, adjust the play speed to 2x.

    You're welcome! 🙂

  19. Avataaar/Circle Created with python_avatars Daniel Druff says:

    You can make more money investing in the nutrition industry rather than working in the nutrition industry but you can do both lol.

  20. Avataaar/Circle Created with python_avatars *Vee* says:

    “You down with OPTT? Yeah u know me!”
    Naw. Never heard of them. And you’re younger than my oldest son. So u don’t know that song. Carry on. 😔

  21. Avataaar/Circle Created with python_avatars James Escobar says:

    Yessss!! I've been having shares since last year and been down..thank you for this man hope your channel blows up

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