Oriental Holdings (ORH MK) Technical BUY with +13.8% potential return Last price : RM8.00 Target Price: RM8.32, RM9.10 Support : RM7.50 Stop-loss: RM7.48 BUY with a target price of RM9.10 with stop loss placed below RM7.48. ORH’s share price has been trading below the medium-term downtrendline since 22 Oct 13 until it breached above the “cloud” on 24 Apr 14, suggesting the end of the previous downward and potentially the start of a new up-leg. Given the breakout which marked a positive follow-through last Friday, we expect the emergence of fresh buying interest as shown by the higher trading volume of 0.9m shares (vs 20-day average of 0.36m) to ensure upward continuation hereafter. Supported by surging momentum as flashed by positive readings in MACD and Stochastic, we expect the share price to retest the previous high of RM9.10 over the medium term.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
pradeep
1,324 posts
Posted by pradeep > 2012-02-23 22:24 | Report Abuse
It broke 6.20 and this stock I believe will go higher