Press Metal Aluminium Holdings has been range-bound during recent sessions. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance of RM4.48, and move towards a target price of RM5.13, followed by RM5.37. Meanwhile, the downside support is anticipated at RM4.65, whereby traders may exit on a breach to avoid the risk of a further correction. 

Trading Call: Buy upon breakout above RM4.88

Target: RM5.13, RM5.37 (time frame: 3-6 weeks)

Exit: RM4.65

Source: AmInvest Research - 14 Aug 2019