Press Metal Aluminium Holdings was testing the RM5.00 resistance level in its latest session. With a neutral RSI level, it may trend higher above this point with a target price of RM5.35, followed by RM5.73. Meanwhile, it may turn sideways if it fails to cross 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: RM5.35, RM5.73 (time frame: 3-6 weeks)

Exit: RM4.60

Source: AmInvest Research - 4 Oct 2018