Sold backingOn what was a panic 211 point TSX sell off today Orvana recovered nicely to be down only 6 cents when the market did not. Obviously buyers jumped in to take avantage of panic sellers to pick up cheap shares.
Technically, this is described as a spinning top candle stick which is a bullish signal. It is bullish because it pull back on the day did not hold and the share price recovered. We can expect a bounce back tommorrow especially if the general market does not panic holders.
Here is the chart:
https://stockcharts.com/freecharts/gallery.html?ORV.TO
In the end Orvana did not succumb to the panic because Orvana shares are backed by strong fundemental and has a producing mine, has another close to production and has an excellent copper project and not floating on speculative hot air and hype. This minor pull back was a chance to pick up shares.
The share price is in a strong upward trend propelled by strong fundementals.