Elite Pharmaceuticals Inc (ELTP): Support is at the 50DMA at .25. RSI coul...

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Elite Pharmaceuticals Inc (ELTP)

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Re: richme post# 172308

Thursday, 11/12/2015 1:55:32 PM

Thursday, November 12, 2015 1:55:32 PM

Support is at the 50DMA at .25. RSI could still go down a lot.

But, like a mentioned before, if you figured the total move was from .22 to .44, a 50% retracement would be .33. The stock went through that down to .28, but a retracement counts if it stabilizes at that 50% point.

If we close below .33, jmo, there is risk to that 50 DMA.

Again, JMO to traders.

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