AmInvest Research Reports
Stock on Radar - Press Metal Aluminium
AmInvest
Publish date: Wed, 17 Apr 2024, 10:03 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Press Metal Aluminium’s buying momentum is back after it broke out of the 1-week bullish flag pattern with a long white candle yesterday. As the 20-day and 50-day EMAs have confirmed their bullish crossover a few sessions ago, the stock looks positive in the near term. A bullish bias may emerge above the RM5.13 level with stop-loss set at RM4.78, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM5.70, followed by RM6.00.
Entry : RM5.13–5.32
Target : RM5.70, RM6.00
Exit : RM4.78
Source: AmInvest Research - 17 Apr 2024
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