Appears 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.
Price 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 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...
Orora 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.
Entry: 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 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.
