Pre-Market Update: OLNOLIN bounced off of the $22.98 after breaking/retesting Downward Trend Support Levels that have been support since Sept 2024. We are looking for a Top-Level Resistance breakout back to the $28 - $ 30s for a decent 20-30% in the Trade. If not, back to the 50% Retracement around the $36.26 over a longer timeframe if the company can reverse the recent stock pullbacks. Analysts have a $33 Price Target on this as well so potential for a quick breakout play here.
OLN trade ideas
OLN is bullish nowOn the chart we can see the falling wedge pattern.
The price broke out of the wedge and it's reasonable to expect the continuation to the upside.
The price still may come back down to retest the downsloping resistance and backtest it in order to confirm it as a support which would be a perfect entry.
However, entering long now on the pullback is also justified as the backtest may occur but it's not certain.
The final target from the falling wedge is 65,50.
The breakout was very explosive so we rule out the fakeout scenario.
Good luck
OLN Narrow 5 Day action.5Day Narrow ADR scan as a Change of Bias Candidate. Great price action to start October. Earnings on Nov 4th, whispers about a EPS beat even on rough numbers. Looking for a lower start to the week for a starter position. 50SMA crossing the 200 and CVPOC down arounf 11.47. Holding around previous month's close & above pivot range for Nov.
OLIN CORP Course Hello traders, OLIN CORP is in a fake bearish push with a high volume of late and especially early trading. We observed an inverted hammer bear candle followed by a small wick, which we have a chance of recovery. The TIMMEFRAME 1Min collapses heading towards its last lower precedent. Great likelihood of going to the next higher, (see TIMEFRAME H4) and if the buyers are back. We can go on the resistance according to, then test the one above put between an area of indecision to achieve. Then reach directly on the symbolic figure of 19.00.
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$OLN Olin Corp. Long TradeOlin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. . The Epoxy segment produces and sells epoxy materials, which includes allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company was founded by Franklin W. Olin in 1892 and is headquartered in Clayton, MO.
OLN Stock bounced off this support 7 times LOL. This is a very easy play and should be held for no more than one week as this stock is like a falling knife. As we can see MACD momentum is currently ramping to the negative and so is squeeze momentum su we can even get a potential big dip coming, or just a bounce of the support.