Orion Minerals (ORN) is an Australian exploration company which is listed on the JSE (September 2017) and on the Australian Stock Exchange in Sydney. It is trying to find funding for its copper and zinc mine in Prieska. The Prieska mine was previously operated by Anglovaal, but stopped operating in 1990 after 20 years during which it extracted more than 1 million...
Orion Minerals (ORN) is an Australian exploration company which is listed on the JSE (September 2017) and on the Australian Stock Exchange in Sydney. It is trying to find funding for its copper and zinc mine in Prieska. The Prieska mine was previously operated by Anglovaal, but stopped operating in 1990 after 20 years during which it extracted more than 1 million...
Orion's share price has seen a strong retracement, since a wave of initially enthusiastic buyers came onboard, following the news surrounding funding and advancement of their respective portfolio of mines.
That said, price may currently be hovering near an attractive re-entry point for the bulls.
On the charts I'm tracking strong divergence between the price...
Orion closed strongly higher, following an announcement, that the company has fulfilled a key condition precedent for a drawdown of ZAR370 million of committed funding for Prieska.
The A$2M loan repayment to AASMF satisfied a key condition for funding being provided by both the IDC and Triple Flag.
In this scenario, I'm using the DMI in conjunction with the AO,
& I've tried to pick a reasonable time frame on the days to analyze.
I tried to isolate a DMI "Wave" from any DMI (+) or DMI (-) to a next peak/trough.
This is to try isolate the market participants and try to capture both their participation in the market.
Once located, I take a Volume profile and...
Keeping it simple by using MA Indicators.
I'm anticipating a continued move higher to the upper levels of the shares VWAP.
The Awesome Oscillator supports the break-upward (Bear Channel) after the sell-off.
There just seems to be a Bullish 'drift' in price, rising ALMOST unopposed.
I'm positive around the recent SENS announcements. After the Aussie trading session, I was glad to see the JSE not following suite as it were. However, I suspect that the price might still in-fact put in that new low.
I would personally be happy to pick up the share at 17c under as a bargain.
After unlocking and securing a whole whack of funding through a series of various arrangements, I'm asking the question, is the chart showing some signs of life.
This week price closed around 21c. While there was an initial reaction to the news, the recent high of 25c has many investors scratching their heads.
The accumulation/distribution indicator, will help...
Orion mineral is a stock current trading @R0.22 and I think it might drop further to R0.15, I think it will have a great support at 15c then get an upward movement to R0.37. This would be 107% profit gain, but there might be more to gain as orion mineral is in the copper industry.
Using the Parabolic SAR to identify the period High & Low prices, I simply used a Fibonacci Retracement to help further identify historical Support & Resistance Levels. Furthermore, as indicated on the chart, by using a Volume profile between the High/Low prices, the 41c level seemed to present itself as most prevalent.
Price currently seems somewhat subdued...
Orion minerals is currently moving sideways in a triangle with a strong resistance at 44c per share.if prices fail to break this resistance we could see prices going under the trendline and going for 30c per share before going to target of 80c per share (as shown on chart) . The direction of Orion minerals will be determined by the demand in copper in these upcoming months
based on the recent purchases of Oekip copper mines and updated bankable feasibilities ORN is going to become a major copper/zinc player in the next 5 years.
