Press Metal Aluminium rose and touched the RM5.70 resistance level. With its RSI indicator moving upward, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM5.92, followed by RM6.02. The downside support is marked at RM5.40. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM5.70

Target: RM5.92, RM6.02 (time frame: 2-4 weeks)

Exit: RM5.40
 

Source: AmInvest Research - 23 Nov 2021