Orion IXL has been consolidating sideways during the last few sessions, with an immediate resistance price of RM0.22. With an RSI above 50%, it may break the resistance level. If this happens, the short-term target price will be RM0.245. Meanwhile, it may lose its bullish momentum if it fails to break the resistance in the near term. In this case, support is anticipated at RM0.53, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM0.22

Target: RM0.245, RM0.27 (time frame: 2-4 weeks)

Exit: RM0.195

Source: AmInvest Research - 9 Apr 2019