ORC 0.00% 8.8¢ orchid capital limited

time to move again!

  1. 271 Posts.
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    ORC has had a great technical pull-back over the last 2 weeks. Almost perfect retracement in fact. Now the selling has dried up completely at lower levels and not much around at higher levels either. Also trading in Europe has subsided at these levels, all of which leads me to the obvious conclusion that this stock is ready for it's next move up. Technically the move sould be to around double the previous ie this is a half-way point in the current upward thrust. Therefore this signals a range of 25-28 cents for the immediate next leg up. Of course if there is good solid news coming out about their monster copper projects, then this could be exceeded. Either way it looks a great situation, and the timing is right given the recovery pattern the market is now in. Several new bids have come in for the stock and the sellres have become thin on the ground. It all points to a move up coming.
 
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Currently unlisted public company.

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