ELDER PHARMA Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock is moving in a down channel formation and RSI indicator had now entered in oversold zone, its a sign for caution for bears. (Updated On 14th August 2014, Thursday).

ELDER PHARMA

• As per previous report published on Elder Pharma stock closed below its major trend line support of 187 and bears got active , till now stock made a low of 164.50, and still falling. (Click here to see past report on ELDER PHARMA).
• Now daily chart indicates stock is moving in a down channel, this indicates that as long as stock trades in between channel it will be favored by bears
• As per graph no 2. Stock major indicator RSI has now moved below level 30, this indicates stock in is oversold zone and can bounce back , its a sign of cation for bears. Chart also indicates as long as stock trades below 20 days moving average it will be favored by bears, once stock closes above 20 DMA then stock will give first sign of bulls.
• Suggested Reading - CESC LTD moving up from strong support , Further strength expecting once stock closes above golden ratio.
• Now as per graph no3, Elder Pharma will be facing strong trend line support around 163 and 161.8% fibonacci retracement support around 152, close watch on support zone, as RSI indicator is in oversold zone stock can see some bounce back.
• Click here to see all the free trading reports (tips) published by us on ELDER PHARMA.
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