Technical outlook – At present, the daily timeframe displays a potential bullish break-out for Orica Limited (ORI), which is mainly supported by the Moving Average Convergence Divergence (MACD), and the Relative Strength Index (RSI) 3-day-lookback.
Therefore, we view Orica Limited (ORI) may stage a rally which is expected to reach $18.00, with further ground covering the upside, until the challenge of 20.00 before the likelihood of any profit-taking emerging.
Company Overview – Orica Limited (ORI) is involved in the manufacture and distribution of commercial blasting systems including technical services and solutions, mining and tunnelling support systems to the mining and infrastructure markets, and various chemical products and services.
Orica has a portfolio of manufacturing and distribution assets strategically located across Australia, New Zealand, Asia, Latin America and Africa.
Former Names: CI Australia Ltd (ICI), 05/02/1998; Imperial Chemical Industries of Australia and New Zealand Limited (ICI), 01/10/1971.