Onmobile Global Ltd: Accumulation is going on

16 thg 9, 2024

Onmobile Global Ltd is looking good on monthly time frame. Stock is showing continuous accumulation at lower levels. Company's OPM has been reduced from peak of 21% in FY 12-13 to 2% in present TTM period. Still volume accumulation is going towards upside. Its consolidating in range of 190 to 15 since last 15-16 years. Can expect retesting of all time high levels if close above 115 on monthly basis. Company core business is Mobile entertainment which comprises gaming, tones, and gamification. Fundamentally Company is not performing well, but volume accumulation at lower levels can't be ignored.