There are not many words one needs to describe this chart. We are clearly still in an ongoing uptrend. Though I still expect a close in the green zone tomorrow I am however keeping my eye on the flattening RSI indicator.
I see $0.90 as the next target and after that we’re quickly looking at $1.00. There will need to be some consolidation cause the RSI can’t stay in overbought zone forever.
But all in all, if one looks at this chart as a series of bottoms, tops, resistance and supports then one has to conclude that there is huge potential of big intra-day rallies for Orko in the coming weeks and months. Try and spot them.
From all the charts I have seen none compare to the overall bullish nature of Orko Silver’s chart. I say overall cause I’m not talking about this day’s action, I’m referring to the overall view of the 2 yearly chart.
And though I won’t admit to not having a small bit of bias since I am a shareholder, I also have my ethical code to not lure unknowing investors into a stock I myself would know to be bad investment wise.
Luckily for me and perhaps for you as a reader, with Orko Silver this is not the case.
Look at the volumes of this stock, if even half of all the people that now are still missing from the stock due to the crisis, would return,…I don’t think I need to draw a picture as to where this price is going to go.
And never mind looking at the price of this stock on the day we get another substantial move in gold and close above $1000. When the market realizes this stock is still undervalued and sees this for instance closing above $1.00 more investors will return. I am sure of that.
YeOldGoldNugget’s links of interest
- New Video: S&P; Going UP..or DOWN?
- New Video: Let’s Take a Fresh Look at Crude Oil
- New Video: Key Levels to Watch in the S&P; 500
- New Video: The gold market continues to steam roll ahead!
- New Video: A look at the dollar index
- New Video: What do supertraders have in common
- New Video: Two Major Forces Collide in the Index Markets
- New Video: What’s Gold’s Next Stop?
- New Video: How long will Dow stay Bullish?
- New Video: Has Gold Topped Out for the Year?
- Has the S&P; Index Topped Out for the Year?
- CRB Index insight video
- Are You Laughing or Crying About Markets?
- Introducing the Perfect Portfolio
- What does winter hold for Crude Oil?
- Free Email Trading Course Copy
- New Video: ETF GLD is analyzed