Oriens – Accumulation is All In the Chart
With Ken Chua of OTHM promising a more transparent company to his shareholders, it seems his words didn’t fall on deaf ears as it is obviously catching on. Have you taken the time to view the accumulation over the last three months?
If you analyze the chart for Oriens Travel & Hotel Management Corp. (OTHM), you will notice a pattern that has been forming. There has been strong accumulation over the past 3 months, and with a few consolidation points, the price has been supported.
We hear all too often about how a company is going to be 100 % transparent, but rarely do they deliver like Ken Chua has. We hope the CEO stays the course and continues to restore some of the integrity lost in the OTC Marketplace over the past few years.
The fact this company trades with or without news is almost an anomaly on Pinksheets!
Over the past 30 trading days, Oriens has only put out three releases. That calculates to just one release every two weeks. Averaging 38.9 million shares of trading volume on each news day, the Company maintains an average trading volume of 13.2 million shares on non-trading days; and the accumulation is beginning to reflect strength. With an average closing price of $0.00159 and a resistance level of $0.002, for the same time period, Oriens’ stock is poised for a breakout with or without news. Of course the market seems to be abuzz, anticipating a couple of key events dealing with the Company’s booking engine technology, their positioning in Central America and a possible partnership that could positively reshape the Company’s outlook and possibly increase value dramatically.
Yet still, it all began with the CEO’s words and actions of transparency. Whether the communication is good, bad, or indifferent, Mr. Chua’s commitment to transparency and forward progress is serving as a conduit for the recent success in accumulation. This is a nice change of pace. Whether it lasts 1 week or 1 year… this is still something the markets could sure see more of.© Copyright 2016 OTC News Magazine. All rights reserved.