The share price of Ollie's Bargain Outlet Holdings Inc. (OLLI) has moved way out of the bargain bin and has climbed significantly the past two years. Can OLLI continue to rally higher? Let's review some of our regular charts and indicators.
In the updated daily bar chart of OLLI, below, we can see a pretty steady upward trend. Prices have spent most but not all of the last 12 months above the rising 50-day moving average line. The 200-day moving average line has never been tested but it was "approached" in November. The daily On-Balance-Volume (OBV) line turned positive in November and its rise supports the bullish advance.
The Moving Average Convergence Divergence (MACD) oscillator is in a bullish mode above the zero line but could cross to a take profits sell signal in the near-term.
In this weekly bar chart of OLLI, below, we can see that prices have stayed above the rising 40-week moving average line. The weekly OBV line has risen the past two years and tells us that buyers on this time frame have been more aggressive. The weekly MACD oscillator is bullish and could well "veto" the daily signal.
In this Point and Figure chart of OLLI, below, we can see a potential upside price target of $79.57.
Bottom line: OLLI is pointed up with no bearish divergences to raise any warning flags. Traders could go long around $70 looking for gains to the low $80s.