A Powerful Indication That OMC Is Headed Higher

Omnicom Group experiences high-volume buying at crucial technical points

   
A Powerful Indication That OMC Is Headed Higher

Omnicom Group (OMC) — This owner of DDB Worldwide, BBDO Worldwide and TBWA Worldwide advertising agency networks, as well as over 100 marketing firms, has a history of steady earnings. It reported EPS of $3.60 in 2012, and estimates $3.99 in 2013 and $4.46 in 2014. The company is considered the bell-weather of the international advertising group with global assets that are diversified across many industries.

Following a deep “V” consolidation from September 2012 to February 2013, the stock broke a double-top and ran from $55 to $58. It then developed a bull channel, breaking from its top in early May.

Buying volume spikes have supported the stock at opportune times, with the last reversing it up from its 50-day moving average. High-volume buying at crucial technical points is a powerful indication that prices are headed higher. Buy OMC at the market with a trading objective of $73.

06 17 13 omc 300x188 A Powerful Indication That OMC Is Headed Higher
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chart key 300x84 A Powerful Indication That OMC Is Headed Higher


Article printed from InvestorPlace Media, http://investorplace.com/2013/06/trade-of-the-day-omnicom-group-omc/.

©2014 InvestorPlace Media, LLC

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