AcornWealthCorp
Short

ORBC- Short @8.33, Flag formation target 7.37 & H&S target 4.57

NASDAQ:ORBC   ORBCOMM INC
17 0 5
ORBC             is forming a bear flag formation. According to the flag formation- if it breaks below $8.33 it will easily decline to $7.37 area. Interestingly in the weekly frame it seems a head & shoulder formation & if it works out it can decline all the way down to 4.5, that is correlating to a longer term support. So we are looking for both short term & long term trade here & we will play by lowering the stop loss.

You can check our detailed analysis on ORBC             in the trading room/ Executive summary link here-
https://www.youtube.com/watch?v=CLNJC2mGHWY
Time Span- 2:40"
Trade Status: Pending
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