Breakout alert today! Some very solid action going on in Orko Silver. Too bad I forgot to take a screen shot of the level 2 quotes so you could see the shares being bought. Already early on at around nine thirty about 50K were traded and around eleven o clock another big block of almost 130K and basically on and off buying throughout the entire day.
Not the million shares action like some time ago but more than plenty enough for this trading action today to qualify as a breakout. So yeah, pretty pleased with the chart, daily and weekly. Always nice to have the low the same as the open of the day which was at 1.05. When we hit noon we were already looking at our high of the day at 1.14.
To me, that was like, well, a breath of fresh air to finally see Orko trading above 1.00 and with such decent volume. Really bodes well and I am really excited about what may come next with Orko Silver or La Preciosa. Which treasures of the Sierra Madre are yet to be uncovered and revealed to us?
I’m sure most of you have been waiting for Orko Silver to get above 1.00 and looking to stay above 1.00. Well, with today’s action that moment is drawing nearer and nearer and I have to say we are already there.
With today’s action we’ve hit a new 3 week high and a new 3 month high. Those are flashing indicators stating we’re on the way up and looking for higher ground. Short term, so daily wise, I’m looking at a continuation of this uptrend. MACD looks very bullish and makes me think we will head up further.
Next target or resistance I’d say would be around 1.20 and to finish the cup and handle would be around 1.40. Extremely bullish I know but if the pattern is completed than 1.40 is the target to look for.
Could it be that investors are realizing that either Orko Silver is an undervalued silver treasure or is this just Orko Silver benefiting of higher silver prices? I think a decent mix of the two ofcourse.
No way anybody is ever going to sell me the story about Orko Silver not having the potential to make it far in this market OR to create shareholder value! I’m not buying! I stick by my decision and turns out at least in my case to have been the right one.
Management has not disappointed me yet and with that I mean, I’m getting a steady, solid and well built march up to higher prices. No more worries about dilution, finances,…just a calm relaxing and exciting train ride to production.
On to the weekly,…again, I’m sure you agree, a very bullish looking chart and bound to make higher highs in the coming weeks ahead. Depending on what gold will do in the times ahead of course.
Looking at the indicators. Weekly volume looks to be increasing. MACD is trading above the center line again and trading upwards which indicates Orko is now officially in a verified uptrend. Trading again above all moving averages.
All in all, things are indeed looking up for Orko. I’m sure there are always some WHINERS out there who’d love no more than to bad mouth a good story. Tough luck and good luck with that trading strategy!
Spend more time whining and become a better whiner, spend more time trading and be bound to become a better trader.
That’s YeOldGoldNugget’s saying of the day and with that I will leave you and bid you prosperity.
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