PMETAL (Not Rated)

PMETAL jumped 16.0 sen (3.31%) to end last night at RM4.99.

Since the sell-down late-February, the share appears to have broken out from the downtrend as shown by the positive gains last week.

Yesterday’s move further reiterates the downtrend reversal as it had broken past its immediate resistance level of RM4.83.

With the technical indicators showing signs of improvement, expect the share to head towards RM5.20 (R1) and possibly higher up at RM5.80 (R2).

Should overall market sentiment be bearish, the share will likely hover close to its resistance-turned-support level of RM4.83 (S1). A break below S1 will see next support at RM4.53 (S2).

NTPM (Not Rated)

NTPM climbed 2.0 sen to RM0.555 (3.7%) yesterday.

The share has experienced downtrend since May 2017 with price falling to as low as RM0.500 in Feb 2018. However, yesterday’s move, which completed formation of higher low and higher high, suggests that share prices could have bottomed out. Momentum indicators are turning positive, i.e. MACD breaking above zero line and oscillator showing upticks.

Expect followed through buying towards RM0.600 (R1) and RM0.655 (R2) further up.

Support can be found at RM0.500 (S1).

Source: Kenanga Research - 18 Apr 2018