This stock maybe heading for a rough fall
$ORI was traded by the Elite Zone members to the short side, back than in June. It broke a trend line we've been monitoring and created a very nice weekly double top setup.
Since than, the stock touched the 38.2 Fib level, bounced from it after the completion of a bullish Gartley and now it is facing a serious resistance zone.
If you'll analyze the daily chart you'll see a daily Wedge that can be broken if the price will reach below 15$.
My final target level, according to the analysis, is 11$ and that's the potential max reward.
a close above 15.5, may lead to a deeper pullback
Check it out..
Since than, the stock touched the 38.2 Fib level, bounced from it after the completion of a bullish Gartley and now it is facing a serious resistance zone.
If you'll analyze the daily chart you'll see a daily Wedge that can be broken if the price will reach below 15$.
My final target level, according to the analysis, is 11$ and that's the potential max reward.
a close above 15.5, may lead to a deeper pullback
Check it out..