A Powerful Indication That OMC Is Headed Higher

by Sam Collins | June 17, 2013 6:55 am

A Powerful Indication That OMC Is Headed Higher

Omnicom Group (OMC[1]) — 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
Click to Enlarge

chart key 300x84 A Powerful Indication That OMC Is Headed Higher[2]

Endnotes:
  1. OMC: http://studio-5.financialcontent.com/investplace/quote?Symbol=OMC
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

Source URL: http://investorplace.com/2013/06/trade-of-the-day-omnicom-group-omc/
Short URL: http://invstplc.com/1fxQOKB