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Potential Buy Entry Alert to Watch ORE
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $874.78 Million Market Cap, VWAP 3.32, ASX Ranking 283, 4 Week Av Turnover $6,499,459, Current Turnover Intraday $2,387,202 (2:49pm AEDT), PE 11.2.
Company Overview : Orocobre Limited (ORE) is a dynamic global lithium carbonate supplier and an established producer of boron. The key assets of Orocobre are a 66.5% interest in Olaroz, a 25% interest in the Cauchari Lithium Project Joint Venture together with a 33.3% shareholding in Advantage, a 75% economic interest in the Naraha Lithium Hydroxide Plant and 100% of Borax.
Broker Consensus : BUY
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ORE – Orocobre Limited
ORE is holding above 3.00 and showing strong signs that longer term buyers are starting to get active. Price recently rallied off 2.25 with increased volume as lithium stocks got a boost. With half year results out on Friday 21st, any positive news may start a new run higher. Watching now for price to hold a higher low on the daily timeframe for the entry as buyers soak up any further selling pressure.
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Stock Code : ORE – Orocobre Limited
Company Website : www.orocobre.com
Current Price : 3.28
Status : On watch for potential higher low and push up through 4.00
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