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Orvana Minerals Corp T.ORV

Alternate Symbol(s):  ORVMF

Orvana Minerals Corp. is a multi-mine gold-copper-silver company. It is involved in the evaluation, development and mining of precious and base metal deposits. Its assets consist of the producing El Valle and Carles gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, and the Taguas property located in Argentina. The El Valle and Carles mines and the El Valle processing plant are a producer of copper concentrate and dore. El Valle is located in Asturias, Northern Spain. The Don Mario Operation is in San Jose de Chiquitos, Southeastern Bolivia. The Don Mario Operation consists of a set of assets that includes Las Tojas orebody, and the previously mined out lower mineralized zone, upper mineralized zone and Cerro Felix mines. The Taguas Property consists of 15 mining concessions over an area of 3,273.87 hectares, held and managed by its subsidiary Orvana Argentina S.A. Taguas is located in the province of San Juan, on the eastern flank of the Andes.


TSX:ORV - Post by User

Post by ganndolph1on Mar 23, 2021 8:55pm
230 Views
Post# 32863791

ORV.TO set up for ABC up to 49 cents CAD

ORV.TO set up for ABC up to 49 cents CADall,
So the bashers are droning on and on about ORV being "dead money", and about Orvana's terrible management, and about the OSP in Bolivia being delayed, and Orvana's share price of only 24 cents even if it is a double off the 2020 12 cent bottom in the share price.

So, if you pull up a point and figure chart of ORV.TO on the TSX 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 17 cent CAD price point.

2. Market makers have been unable to push ORV.TO below 23 cents CAD since August 2020.

3. The 1600k shares added in June and July 2020 at prices between 16 and 23 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 ORV.TO my conclusion is that ORV.TO is setting up for an ABC up in price with the A to B leg between 11 and 37 cents, the B to C retrace from 37 cents to 23 cents, to be followed by a C to D move from 23 cents to 49 cents CAD as the 1:1 target on the ABC up.
 

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