Plz don't disappoint us I believe that that are holding orna now are investors Rather than speculators as orna has flushed out many Contra players and speculators
Ornapaper (OPB MK; RM1.20) – BUY R2: 1.54 R1: 1.42 S1: 1.15 S2: 1.11 The stock is consolidating in a symmetrical triangle pattern. Yesterday’s marubozu candle could signal the end of the sideways trend. MACD is about to reconfirm a bullish crossover while RSI has hooked upward slightly after finding support 50pts mark. Aggressive traders may go long here with a stop placed below RM1.11. We expect prices to retest the RM1.42 triangle high next. It is possible for it to even reach RM1.54 next.
Ornapaper (OPB MK) Technical BUY with +29.0% potential return Last price : RM1.23 Target Price: RM1.42, RM1.59 Support : RM1.15 Stop-loss: RM1.13 BUY with a target price of RM1.59 with stop loss placed below RM1.13. OPB’s share price has been consolidating in a tightening range since 14 Feb 14 as the fluctuations in share price have formed a bullish continuation pattern in the form of a “symmetrical triangle” in the last 45 days. Last Friday’s breakout from the pattern, albeit the gap-up was relatively minor, was accompanied by a higher trading volume of 1.3m shares (vs 20-daya average of 0.55m), thus it is still considered a genuine breakout. Given the bullish crossover in both MACD and Stochastic, the positive momentum should, in our view, help the share price nudge higher hereafter. Moving forward, we peg our upside target based on X to X projection of the “symmetrical triangle” pattern at RM1.59 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....
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Posted by InsiderNews > 2014-04-02 01:16 | Report Abuse
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