Trend Rider 261. Weekly in uptrend, EMA10 > EMA30 > EMA200. In Wave 4 with a reversal expected to be at 0.618 level also a SBR.
2. In daily hammer was formed and followed with bullish candle. Have not move yet but crawls lower thus may be a good time to start collecting. Price action above EMA 200.
3. Isaham rating 9.9 WAFV RM2.84 PE 10.1, i3 ATP 1.44.
ORNA trade ideas
Reaching 2018 highest!!OrnaPaper is in a very good swing position, and it has reached 2018 highest.
Recently a lot packaging company going up.
With more online sales, box packaging demand increase.
Now is at 2018 high and ceiling of the uptrend tunnel, I'm expecting it break up higher.
Aiming at RM2.
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Disclaimer
This information only serves as study references, does not constitute a buy or sell call.
Paper found resistanceORNA has broken through significant support at 0.88 on Mar 2020, recovered the collapse, however found resistance at 1.54. If the price reverse, the share could be moving in a range bound for a certain period.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Trading idea using price movement channelI seldom use channel to indicate trading ideas.
ORNA is a counter I would like to test using price movement chart.
I suggest the price will move in channel of RM0.030 each, currently moving within channel of RM1.010 to RM1.04.
Depending on the other technical indicator (I use simple indicator such as SMA cross-overs, RSI and MACD), we can expect price to move up to highest of RM1.250.
Current target price is RM1.040 / RM1.070 / RM1.100
Current support price is RM1.010 / RM0.980
Trading with care, always know your limit of tolerance. Risk and benefits is always there, but never forget. Emotions always be with us. Rule to follow is ALWAYS FOLLOW TRADING PLAN.
ORNA - Possibly the next big win from surge in demand Yesterday I posted on consumer product related companies i.e. MASTER and PPHB, both companies are in the same sectors providing packaging services for products out there. Today is just another one company in the same sector.
ORNA - providing corrugated boxes and flutes packaging.
Fundamentally
Market Cap: RM79mil
Last price: RM1.05
EPS: 17.55 cents. Just a quick conversion *8.1 to determine the intrinsic value = RM1.42 (undervalue)
PE Ratio: 5.98 OK
ROE: 7.44
NTA: 2.36 (Undervalue)
Financially, the company has been in positive net profit since 2012, with positive year on year growth since past 3 quarter.
Catalyst remain the same with the increase in demand from the recovery of COVID-19 and increase in online purchasing eversince lockdown period, I believe the demand for the packaging is surging. In fact, Poslaju recently told that their daily demand increased to almost 750k per day. That's a whopping huge number.
You may check previous post on MASTER and PPHB below.
