Press Metal Aluminium Holdings shot up and formed a long white candle in its recent session. With the RSI indicator above 60%, it may climb above the resistance price of RM4.65. If this happens, its short-term target price will be RM4.91 followed by RM5.15. Support price is anticipated at RM4.43, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.65

Target: RM4.91, RM5.15 (time frame: 3-6 weeks)

Exit: RM4.43

Source: AmInvest Research - 29 Jul 2019