Ornapaper consolidated and is poised to test the RM1.44 resistance level. With its RSI indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.49 and RM1.52. The downside support is projected at RM1.36. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.44

Target: RM1.49, RM1.52 (time frame: 2-4 weeks)

Exit: RM1.36

Source: AmInvest Research - 9 Jul 2021