ORD River Resources [S&P/ASX 200 Materials] strengthens above 50-day Exponential Moving Average Price EMAP
ORD River Resources (ORD.AU), Australia's 33rd largest gold company by market capitalisation, has strengthened above its trend. The price to 50-day EMAP ratio is 1.7, a bullish indicator. The 50-day EMAP has increased to 6.97c. An increase is another bullish indicator. The stock price soared 2.80c (or 30.4%) to close at 12.0c. Compared with the All Ordinaries index, which fell 105.4 points (or 2.2%) on the day, this was a relative price change of 32.6%.
TECHNICAL ANALYSIS
Significant Uptrend
Support: the support price is hovering at the 5.70c level. Volume traded at the support price zone was 8.1 time average during the single occasion when the support price was breached. In the last month the lowest price was 5.70c on May 03.
Resistance: resistance is apparent at 12.50c. Volume was 31.3 times average during the single occasion when the resistance price was breached in the last one month. In the last one month the high was at 12.50c on May 04.
Trailing month: in the last 21 trading sessions there has been a net rise of 50%; the stock has advanced 10 times and the biggest one day rise was 30.4% on Jun 02.
PRICE VOLUME DYNAMICS
Volatility: the stock traded between a three-day low of 9.0c and one-month high of 12.0c. The price range has expanded in the last two days (from 1.0c two days ago to 3.0c today) which, accompanied by a price rise, is a bullish signal.
Today its volatility of 33.3% was 12.3 times its average volatility of 2.7%. A price rise on high volatility is a bullish signal. The average daily volatility of 6.0% places the stock in the 1st quartile in the market meaning it is highly volatile.
Volume: there were 48,794,236 shares worth $5.3 million traded. The volume was 14.6 times average trading of 3,330,994 shares.
% Discount to high: the last price is at a discount of 4.0% to the 12-month high of 12.50c.
Volume weighted price (VWP): the price is at a premium of 35.4% to the 1-month volume weighted average price of 9.0c. In the past year the premium has been greater than 35.4% just once, suggesting a topish level and cautious buying at the current price.
Beta: The Beta of this stock is 0.66. A Beta lower than 1 suggests this is a low risk, low return stock with volatility less than that of the market.
Standard Deviation (SD): SD is a statistical measure of deviation from the mean. The SD of 6.9% gives it a percentile rank of 84 meaning that 84% of stocks in the Australian market are less volatile than this stock.
RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTAL ANALYSIS
Bullish Signals:
♦ The Price to Book of 2.3 lower than average of 3.7 for the Gold Sector and 2.9 for the Total Australian Market.
♦ The price soared 41.2% in the last week and 14.3% in the last month.
♦ This has been propped up by strong volume of 7.6 times average for the week and 7.5 times average for the month.
♦ In the Australian market of 1,363 stocks and 74 units traded today, the stock has a 6-month relative strength of 98 which means it is beating 98% of the market.
♦ A price rise combined with a high relative strength is a bullish signal.
♦ The price to 50-day EMAP ratio is 1.7, a bullish indicator. The 50-day EMAP has increased to 6.97c. An increase is another bullish indicator.
♦ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) minus the 26-day EMA is positive suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.
♦ In the last three months the stock has hit a new 52-week high thrice.
♦ The price to 200-day MAP ratio is 2.52, a bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of 6.38c is higher than the 200-day MAP of 4.77c, another bullish indicator.
Breakout:
♦ The stock traded at a one-month high of 12.0c today.
♦ In the last three months the stock has hit a new 52-week high thrice.
Bearish Signals:
♦ The price has risen above the upper Bollinger band of 10.43c; the Relative Strength Index (RSI) of 86.6 has penetrated the overbought line of 70.
VAN Price at posting:
11.8¢ Sentiment: LT Buy Disclosure: Held
