Stock Technical indicators to notice in ORAMED PHARMACEUTICL (ORMP.OB)
1- Last bullish trend was from 14.72 $ (3/3/2014) to 15.49 $ (3/4/2014) a 0.77 $ move 2- The current bearish trend started from 15.49 $ at 3/4/2014 and is currently trading at 14.80 $.
4- ORMP.OB current resistance level is at 15.01 which is the 61.80 % fibonacci retracement of the last 0.77 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
ORAMED PHARMACEUTICL (ORMP.OB) Short term stock chart patterns for internet stock trading :
6- The Stock formed a 1.220 $ height triangle which was broken down at 14.800, target of the pattern is 13.580.
ORAMED PHARMACEUTICL (ORMP.OB) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 2.240 $ height triangle which was broken up at 15.490, target of the pattern is 17.730 which was broken down at 14.800, target of the pattern is 12.560.
ORAMED PHARMACEUTICL (ORMP.OB) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 15.970 and 25.970 that was broken up at 14.880 transforming into a supporting line.
Stock Trading Conclusion:
ORAMED PHARMACEUTICL (ORMP.OB) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 14.86, 14.96, 14.98, 15.01, 15.06, 15.10, 15.14, 15.20, 15.23, 15.31, 15.49, 17.73.
Stock Support levels : 14.72, 14.51, 14.45, 14.24, 13.58, 12.56,.
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