Watch the Rectangle on OMC closely. Trade with professional charting tools.
Sideways movement between parallel supports.
Bearish continuation pattern.
Market participants tracking Omnicom Group should note the latest formation. The stock is trading at $71.35, down 6.5% on the day. Price action has carved out a classic Descending Triangle. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $69.24, targeting $60.38 with support near $78.1 (R:R 1.0).
What is your outlook on OMC?