biggred87

Trading idea using price movement channel

MYX:ORNA   ORNAPAPER BHD
I 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.

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