Negotiable retail inventory for reimbursement
Discounted retail inventory Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) It is down from a three-year high of $120.00 since December 20th. At a last look down 1.3% at $99.93, the stock is headed for its ninth loss in the last 11 sessions.
The 126-day moving average, which represents half a year’s worth of trading, appears to be providing support today. And since it’s a bullish trend story for the stock, it could soon provide OLLI with a jumping off point.
According to Per Schaefer Senior Quantitative Analyst Rocky White, Ollie’s Bargaining Spread stock is near its 126-day moving average after a long period (80% in the last two months and 8 times in the last 8 periods). 10 business days) five times in the last three years. After 60% of these signals, the stock is higher one month later, with an average gain of 5.2%.
The stock’s “oversold” status also suggests a short-term rebound. Notably, OLLI’s 14-day Relative Strength Index (RSI) of 16.5 is sitting firmly on this territory.
Meanwhile, options look a good way to weigh in on stocks. The Schaeffer’s Volatility Index (SV) is in the 16th percentile annual range of 34%, which means traders are pricing in low volatility expectations.
