PMetal started the bearish momentum on 2 Mar 2018. Technically, it is the reversal pattern. So, is there any thing we need to beware off. As we know that, there is many call warrant for Pmetal and is about to expired. I will down all the expired date for your reference

No          Stock                                     EXERCISE PRICE                                 Expiry Date

1              PMETAL-C1                                         3.80                                        29 JUN 2018

2              PMETAL – C2                                      4.10                                        29 JUN 2018

3              PMETAL – C3                                      4.30                                        14 MAY 2018

4              PMETAL – C4                                      5.00                                        29 JUN 2018

5              PMETEAL – C5                                   5.35                                        24 JULY 2018

6              PMETAL – C6                                      5.00                                        28 SEPT 2018

7              PMETAL – C7                                      6.30                                        28 SEPT 2018

8              PMETAL – C8                                      6.00                                        30 NOV 2018

9              PMETAL –C9                                       6.20                                        12 SEPT 2018

10           PMETAL – CQ                                     2.68                                        30 APR 2018

11           PMETAL – CR                                     2.88                                        30 APR 2018

12           PMETAL – CS                                      3.08                                        30 APR 2018

13           PMETAL – CT                                      2.90                                        30 APR 2018

14           PMETAL – CW                                   3.28                                        31 MAY 2018

15           PMETAL – CX                                     3.58                                        31 MAY 2018

16           PMETAL – WC                                    0.39                                        22 AUG 2019

Let us focus on those call warrant which is going to expire. Let put all this highlited in red and we take average pricing for exercise price which will derive to the figure to 3.24 which is quite near to Ambank Target Price given for Pmetal.

This is corporate action and we assume “BIG BOY” ultimately will win in the battle. So, as long it able to press it below exercise price. Technically speaking, majority retail investor/trader will be losing all their money if they not able to sell it before the expiry date. there might be hidden force and big player in the market due to corporate action which is call warrant going to be expiry. There will be hard to gauge the momentum and it will be swing wild.

Technical Point of view :

Currently, we are witnessing a strong technical recovery for Pmetal and it might test the resistance at 4.38. If able to stay strong above this level then next resistance level will be 4.70. On the other hand, I am looking at the support level which is 4.04. If this level break then next support level will 3.62 follow by 3.26. Overall, my personal opinion this is merely a technical rebound rather than a start of bull trend.

Disclaimer : Trade at your own risk and do consult your dealer/remisier for any investment decision.

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