Press Metal Aluminium Holdings crossed the RM5.00 level in its recent session. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM5.36, followed by RM5.73. Meanwhile, it may continue trending sideways if it falls back below the RM5.00 mark in the near term. In this case, support is anticipated at RM4.60 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM5.00

Target: RM5.36, RM5.73 (time frame: 3-6 weeks)

Exit: RM4.60

Source: AmInvest Research - 24 Sept 2018