Orko Silver Chart September 9, 2009

Intraday Chart

Chart courtesy of google finance

On the intraday chart we see a last hour close at 0.85 which is below the 5 hour Moving Average.
Moving Average 5 Hours means a Moving Average that I use to check the price movement of the last 5 hours. So that means adding up the closing price of each hour going back 5 hours and dividing that by 5 to get the MA 5.
For those that want to do the math it comes down to 4.33/5 = 0.866

(I used a different 60 minute chart to get the numbers, that is not shown on the included Google chart above.)

And we closed at 0.85.

Mind you, thats just a minor indicator I look at. Insignificant when compared to the still bullish technicals for this chart.

Lets bring up the daily chart.

Daily chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

We are still looking at a bullish chart and a stock which is in an uptrend. With the stock reaching 0.89 we not only have a new 3 day high today we also have a new 3 week high for this week ending September 12th. All bullish signs.
Looking forward to adding more to this months high, and it's still early days in September so plenty more to come.

On the chart we see RSI flattening which might indicate several things judging from one's throw of the dice of luck.
As most of you know, RSI is used to help determine if a stock is oversold(<30) or overbought (>70) but there is another way RSI is used.
Allow me to explain, RSI normally follows the closing prices and thus follows the stock in a similar way, up, down, up, down and so on. However on some occasions the RSI index flattens out with a still moving stock or goes in the opposite direction of the stock. When that happens its called a divergence.

The direction of the divergence combined with a corresponding candlestick pattern can provide an investor more clues as to what the stock might do. I use the word 'might' very carefully since the markets are not predictable and the technical aids are just that, to assist an investor in his trades and lessen his percentage of risk, or at least aspire to do so.

Momentum did pull down a bit to a volume of 276K shares traded.

I'll tell you this, with a chart looking like this you won't hear me complaining.
Still plenty upside potential in the long run for shareholders and new investors to the stock.



YeOldGoldNugget's links of interest

• Seven market lessons guaranteed to improve your trading
• 5 Markets & 5 Ways To Improve Your Trading Profits In the coming years ahead
• 90 Second Gold Lesson (Video)

Orko Silver Chart September 9, 2009