Elite Pharmaceuticals Inc (ELTP)

[Drugdoctor]

You gotta love it-SELL CONFIRMED. Our system posted a SELL CONFIRMED today. The previous BUY recommendation was issued on 02.20.2013 (6) days ago, when the stock price was 0.0842. Since then ELTP has fallen -9.74% .

SELL-IF is confirmed by a black candlestick with a higher open and a lower close. The selling price is the previous close ( 0.0780 ) according to the Rules of Confirmation.

Bears are getting stronger. The market hesitated a bit, but finally confirmed the bearish pattern with a one day delay. Though the market opened higher today, the day’s activity created a black candlestick that closed below the previous close. This is a valid bearish confirmation.

The significant failure of the previous BUY signal is unfortunately confirmed too. Our shot went away this time. It is a fact that such signal failures are more unlikely for higher rated stocks, but it is not possible to deal with all the vagaries of the stock market. The signal system, however, continues to do an excellent job in the overall, despite such failures. This can be seen easily with a quick glance to the signal history table.

Selling was the right move today in order to prevent further losses, but we are sure that you may easily cover your losses (if any) by basing your future trades on our signal system. Your important benchmark today was the previous close. You were supposed to watch the session carefully, feel its bearish tendency despite the higher opening and sell your shares after making sure that the prices stay below the previous close.

If you sold, keep away from this stock until the confirmation of a new BUY-IF signal unless there is not an emergency warning. What to do if you did not already sell? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well, it is a bit late, but not too late. You may still find suitable prices for selling your shares in the following sessions.

The market is an inviting one for short-sellers. Risk lovers may now go for short sale. The market is already moving on the side of shorts ignoring the confirmed bullish patterns.




http://www.americanbulls.com/StockPage.asp?CompanyTicker=ELTP&MarketTicker=OTC&TYP=S