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-
Time Span- 2:40"
Trade Status: Pending