TSXV:NORA.H - Post by User
Post by
caffeeon Feb 01, 2007 6:26pm
406 Views
Post# 12144682
the chart and price action ....strong
the chart and price action ....strongLooking at chart of Orko is very promising. 2 popular lagging oscillators..MACD and RSI have turned up and using the high in May and low in June gives a triangular or wedge working it's way out with a good period of consolidation and base building. Looking at the widest part of that wedge would suggest ( if silver co-operates ) a target price of aproximately $1.20. A break out of that formation is around the .57 .58 area. Todays close above it's 50dma and 200dma with a corresponding increased volume shows that technically, Orko is in excellent shape. Acouple more closes above .55 and one above .58 in next few days, then it's .....bu-buye
Then there is the market depth and bidders outnumbering shares offered. Another important development that bodes well for future share prices.
Having said that, juniors are not the best candidates for technical analysis. Supporting the above technicals and even more important in Orko's case or any junior is the fundamentals behind it, which am sure most are aquainted with or can find out by visiting the Company website.
MHO cheers