Guys and gals, I thought I would update you all with a chart.. My last chart was back on the 29/12 when ORD finally closed above the 41D MA @ 5.2c. As I posted back then it was a significant step in the right direction, and it was on track to head back up towards to the 6c level...
The 4.6c support level is a now a thing of the past...We can now comfortably say that the new support would be the MA @ 5.5c, though I doubt that will ever be seen again unless something dramatic changes.
As you can see from the chart below, next resistance is at 6.4c. There is a gap in the chart from the old chart from 6.1-6.5c so that should be filled first. Next resistance after that is at the 7.5c level where I consider the next short term target!
Volume today was impressive with over 25M shares changing hands..There was a big churn at the 6.1 to 6.2c level which I thought would eventuate into something more in the afternoon trade, but it didn't.... I reckon tomorrow we might just see that.
A friend of mine said to be the other day, don't even mention ORD movements to me until we get excited about it going up in 5c increments not .5 of a cent. IMHO this isnt that far away if all goes well with the Chinese. The Chinese are not silly as we know, and where they put their cash I usually feel pretty safe....here very safe.
Looking forward to the ORD future...
Cheers Kevi
VAN Price at posting:
6.0¢ Sentiment: LT Buy Disclosure: Held
