ORLA MINING – CUP & HANDLE CONTINUATION

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section Orla Mining Ltd. listed on the Toronto Stock Exchange.

ORLA MINING LTD (OLA.TO)

Orla Mining Ltd is a Canada-based mineral exploration company. The Company has the following projects: Camino Rojo and Cerro Quema. Camino Rojo is a gold and silver project located in Zacatecas State, Central Mexico. Camino Rojo has historical oxide reserves along with historical sulphide resources. The stock is listed on the Toronto Stock Exchange. Price chart formed a 4 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 7.17 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 7.40 levels will confirm the breakout from the 4 month-long cup & handle continuation with the possible chart pattern price target of 9.5 levels. Breakout can push the stock to all-time highs. (Data as of Jan 4, 2020)

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