Orna Paper surged past the resistance price of RM1.12 in its latest session with higher trading volume. With the momentum indicator RSI above 70%, the short-term momentum could reach a target price of RM1.22, followed by RM1.27. If it dips below RM1.12, it will continue to move sideways and consolidate. Support is anticipated at RM1.05 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.12

Target: RM1.22, RM1.27 (time frame: 3-6 weeks)

Exit: RM1.05

Source: AmInvest Research - 4 Dec 2019