PMETAL caught investors’ interest as traders are anticipating a good set of 4Q14 result after its international peer Alcoa posted positive 4Q result. PMETAL closed 17 sen or 6.9% higher to RM2.62 yesterday on the back of a spike in daily trading volume. Both Stochastics and RSI indicators are trending upwards; while MACD has just performed a positive crossover of the Signal line, suggesting strong buying momentum. With the strong market buying interest, we are issuing a Trading Buy call on PMETAL with TP of RM3.00 (R2), and strict stopped loss at RM2.35 (3 bids below S1).

 

 

Source: Kenanga