Omega Navigation Enterprises,Inc. (NASDAQ:ONAV)
A: We issued a Downtrend for ONAV on 6/17 @ $4.53 just after it crossed below 50-day moving average support. Stock is looking to find some support near the March lows of $3.50. So it may trade sideways for a while as the broader market tries to find some direction. But those March lows need to hold. The 50-day moving average is now at $4.48 which is going to be resistance in the short term.