Guys, I got a bit of time to look at this one tonight. I like...

Guys, I got a bit of time to look at this one tonight. I like many were disappointed in the performance of ORD and many other stocks over the last few weeks.. the feel of doom in the air is rife, and ORD will not escape the cash coming off time table.. long term holders in this type of market will feel the short term pain.

Anyway, to the chart..I think the chart is fairly self explanatory, however...

We have broken back through to the lower side of both the 41D moving average, and also the longer term 200D moving average.. Alot of techs would unfortunately see this as a buy until a few bullish indicators start to show through. These include a break back above the MA's, a turning of the MACD and as well as the stochs.

IMHO I see little downside at this level, recent cap raising by pattersons was at 4.5c, we havent seen any offloading that we are aware of by them since their purchase and with news due soon from a few different projects many could consider this a buying op.. Buying now for short term gains isnt ideal IMHO, however if a few of those indicators get hit as mentioned above then it will be game on..

So, buy now and set stops below the support level of 4.6c and wait for it to move up...or wait for the indicators to show and then buy some more... Im personally waiting until I see more signals, however its risk V reward.

Hope this helps.