ORNA (Ornapaper Berhad) – MYR0.755 (Stock Code: 5065) (Bloomberg Code OPB MK Equity)
ORNA (Ornapaper Berhad) Daily Chart (click to enlarge):
ORNA made a daily major Wave C low of MYR0.41 (16 May 2012) with grossly oversold and bullish divergent signals. We believe the stock is in a very firm daily uptrend. With all its indicators firmly positive, we feel that ORNA has the potential to test our indicated upside targets and resistance levels.
SHORT-TERM BUY (TECHNICAL) on dips for ORNA, with its very firm support levels indicated above. Its upside target areas are MYR0.83, MYR0.86 and MYR0.98, with stop-loss at MYR0.61.
Ornapaper Berhad (ORNA) is an investment holding company. Through its subsidiaries, the company designs, manufactures, and sells corrugated board and carton boxes.