Olin Corporation (OLN) manufactures & distributes chemical products in the US, Europe, Asia Pacific, Latin America & Canada. It operates through three segments: Chlor Alkali products & Vinyals, Epoxy & Winchester. It is based in Clayton, Missouri, comes under Basic Materials sector & trades as “OLN” ticker at NYSE. OLN made all time high at $67.25 in May-2022 as wave I impulse sequence started from March-2020 low. Below there, it favors pullback in 7 swings correction & expect to remain sideways to lower in II.
OLN – Elliott Wave Latest Weekly View:
It placed (II) correction at $8.76 low in March-2020 low. Above there, it favors higher in (III). It placed ((1)) of I at $16.57 high & ((2)) at $9.67 low as dip pullback. Above there, it extended higher in third wave extension, which ended as ((3)) at $64.76 high. It corrected lower in ((4)) as double correction at $44.24 low as 0.382 Fibonacci retracement. Finally, it ended ((5)) as diagonal sequence at $67.25 high as I of (III). It favors pullback in II as double correction lower towards extreme areas before turning higher. Below I high, it reacted lower in ((W)) in 3 swing pullback, which ended at $41.33 low. It bounced off in ((X)) connector, which finished at $64.70 high as 3 swing bounce. Currently, it favors lower in ((Y)) of II, which will confirm below ((W)) low. It placed (A) of ((Y)) at $46.78 low & ((B) at $59.95 high. Below there, it favors lower in 1 of (C) & expect to remain choppy to lower. It expects (C) of ((Y)) to extend lower towards $38.74 – $22.71 area to finish II, where it should find buyers to extend higher or at least can see 3 swing bounce. Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
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