Monday, June 02, 2008


Orchid chemical undergoing its corrective correction after corrective rally (B up)so probably C down underway according to Elliot wave analysis and older post on orchid when the pattern was still new can be checked at ORCHID B up
An updated chart is attached to try to foresee the movement of the script price in coming weeks

as it can be seen that slanting trend line is broken downwards which suggests a move towards 200 to 180 which is a good support for the stock so if you are holding longs in this script be ready to book small loss if you are a trader else this could be a pain full journey downward for this script ,Option traders can buy 200 strike put try to buy it cheap if a rise is seen to get maximum benefit from this analysis.



Post a Comment