ORVMF set up for ABC up to 37 cents USDall,
If you pull up a point and figure chart of ORVMF in the US on a 4 percent box size, and add share volume by price, one notices the following features:
1. Maximum buying and selling is at the 19 cent USD price point.
2. Market makers have been unable to push ORVMF below 18 cents since August 2020!!!
3. The 600k shares added in June and July 2020 at prices between 12 and 17 cents are in a winning position with respect to the current price, and nobody is selling! Period, full stop!
4. Everyone who bought between November 2019 and June 2020 is in a winning position, and based on the current trading action, NOBODY is SELLING!
5. Based on the trading action in ORVMF my conclusion is that ORVMF is setting up for an ABC up in price with the A to B leg between 9 and 27 cents, the B to C retrace from 27 cents to 19 cents, to be followed by a C to D move from 19 cents to 37 cents as the 1:1 target on the ABC up!