ORD popped up on the trading radar for me a couple of days ago....

ORD popped up on the trading radar for me a couple of days ago. Fundamentaly the Company would appear to be progressing nicely towards completion of its Laos feasibility study, which by the undertones within the Company's announcements would appear to be going nicely..

From a technical aspect the chart as of today is looking very bullish.

1st Bounce of 12mth lows - On 1/7/2009 ORD traded at a low of 2.6cents. On 7-8/6/2010 ORD tested and bounced off this same point.

2nd Break of Short term descending triangle - Peaks 15/4,10/5 and brake at 10/6/2010.

3rd Set to test Long term descending triangle - Commenced at double top peak set at 9.2cents on 30/10/2009 and tops at 20/01/2010 & 15/04/2010. Looks set to test descending triangle in the next two days at or around 3.4.

4th If ORD closes at 3.1 or above it will have closed above the previous days close for four succesive days since a third test of its twelve month lows at 2.6cents.

5th STMAV crossing LTMAV

Should ORD break the long term descending triangle this week the resistance levels look to be:- 4.0, 5.1, 6.7

Looks like this could be worth a trade.

IMO
DYOR