Orara Limited - Higher highs, lower volumeAppears to be a slow rising. Recently two golden circle buy on the momentum indicator. Continuous higher highs. Solid industry from my perspective.
In my opinion, will continue to grindly slowly higher.
Trade ideas
ORA, Tight FlagPrice consolidating above 200 ma. Looks like a flag, or marginal tight flag forming. A couple of High volume selling bars, fails to break below pivot. This is significant. Buyers set back in a few bars later. Bought the lowest red volume bar. Sellers are done (fingers crossed)! ML has been zoomed, and now expect a retest of it, and if holds then look for UML.
ORORA - possible Cycle wave 3Orora has a pretty neat cycle count. I don't like applying wave counts to specific stocks but the price action on ORA is quite tidy. I haven't gone into lower time frame counts so this is just a visual but the turning points do fit a "primary cycle" wave up followed by an ABC down. ORA could be at the start of a Primary 1 in a larger degree Wave 3 up. I really love the Stochastics set up too - I use the grey one to indicate short term interest and the blue Stochastic to represent longer term interest. The placement of the Stochastics signals is bullish and would indicate strong price action over the next few weeks in my opinion. This analysis does not constitute trading advice.
Orora Ltd - Relative Dividend EffectOrora Ltd (ASX:ORA) has a tendency to perform relatively well around its Half Year & Full Year dividend. Since 2014, the average relative return vs All Ordinaries Index (ASX:XAO) for the 5 days before Ex-Dividend, Day of Ex-Dividend, & 7 days after Ex-Dividend (13 Trading Days) was 4.13% with a win rate of 14 from 15.
Dales HotBuy PickAscending Triangle
Bouncing off Resistance
Long Bottoming Tails
Predicting a break out
ORA Long after break out with good volumeEntry: 2.79
Stop loss: 2.67
Broke out today with above average volume.
Long term trendline i.e. 50 SMA still pointing downwards though
Hit and Run trade.
ORA - Cup and Handle Formation and Consolidating - Go HigherORA look s to me like a cup and handle formation and is now ready to start pushing higher and breaking through a small flat top or ascending triangle formation to start moving back up to pre covid levels. I beleive their revenue is going to be about the same as pre covid so logically should increase in price. Not that the market is logical. Haha.
Short ORAGreat short the daily resistance play on ORA, just need to be more patient while i'm trading!
