Kenanga Research & Investment
Highlights / Stock Picks of the Day - Press Metal Berhad ("PMETAL”) – Not Rated
PMETAL’s technical picture turned positive when the share price broke above its multi-month resistance level @RM2.08 region last month. Yesterday, PMETAL formed a “bullish Marubozu” candlestick to close at RM2.52 (+13 sen). Should the stock continue to rally, we suggest that traders aim to take profit at the crucial multi-year resistance level @RM2.79. On the flipside, a stop-loss level should be employed at @RM2.37 in case the stock moves against us.
Source: Kenanga
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