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ORNA trade ideas

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.
MYX:ORNA
by biggred87
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.
MYX:ORNALong
by mahsyarsaid