O2Micro International Limited trades under the ticker OIIM, and has recently shown solid growth worth taking a closer look at.
OIIM stock does not have options, so traders can only trade their common shares, which currently cost $6.42 (per 10/30/2020’s close), and are showing a bit of pre-market weakness (-0.2% at 8:30 am 11/2/2020).
After a correction from $6.23 on 10/22/2020, they’re now looking to establish a new range, and should have some more gas in them to run with.
OIIM Stock Price: $6.42
10 Day Moving-Average: $5.67
50 Day Moving-Average: $3.90
200 Day Moving-Average: $2.22
RSI: 70
If O2Micro International Limited stock can break through $6.44, then traders should expect to see them continue to run.
As there are no options, and OIIM is a member of the NASDAQ, SQQQ shares or call options may be your best bet as a hedge against OIIM’s performance.
However, anyone using SQQQ as a hedge should be aware that it is a 3x inverse ETF and may decay faster than OIIM appreciates, so a trader would only want to do this for a short term, and using a ratio of OIIM:SQQQ.
*** I DO NOT OWN SHARES OF OIIM STOCK ***