Press Metal Aluminium Holdings jumped above the resistance price of RM5.05. With an RSI level above 50%, it may continue to climb above RM5.05 and move towards the short-term target price of RM5.22 followed by RM5.30. If it closes below RM5.05, expect a sideway movement. Support is anticipated at RM4.92, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM5.05
Target: RM5.22, RM5.30 (time frame: 3-6 weeks)
Exit: RM4.92
Source: AmInvest Research - 7 Feb 2020
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Created by AmInvest | Nov 25, 2024