OLLI Stock Tries to Gain After Bull Note

OLLI stock received another bull note

Josh Selway

Oct 15, 2019 at 10:33 AM

OLLI

Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) is up 3% today at $60.42, after RBC upgraded the stock to "outperform" from "sector perform" and lifted its price target to $67 from $65. Most analysts are already bullish, with eight of 12 in coverage handing out "strong buy" recommendations.

Options traders have also been bullish, based on the 10-day call/put volume ratio of 3.60 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This reading ranks in the 89th annual percentile, showing such a level of call buying is rare.

OLLI stock has struggled on the charts in recent months, falling from a May peak of $103.03 and eventually bouncing from the $55 level in recent weeks. The downtrending 50-day moving average is looming overhead, too in the $66 area. The technical troubles haven't been missed on short sellers, who've taken control of 13.7% of the equity's float.

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