ORCL test Nick line for Head and Shoulder formation supported by 20 / 50 SMA and Mid Bolingar Band .....the long term down trend is confirmed by Double Top seen in Monthly chart seen in 36.50 , it seems like the bears are very strong with 16 June and 13 Mar Bearish Weekly Engulfing , we would suggest Buying Dec 2013 Put 33 Strike ....this scenario will be canceled with any weekly candle closed above 33............or we can sell the stock directly from next week
Comments
Nashwan
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A weekly close above the channel will mean that we have to close and reverse
Nashwan
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OPT now 0.98
Nashwan
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OPT now 0.95$
Nashwan
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Good Weekly candle if closed like this OPT is 0.72 right now
Nashwan
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the best time to go bearish now with 13 Sep put strike 32 = 0.70$