RHB Retail Research
Technical Analysis - Press Metal Aluminium
Press Metal Aluminium
Press Metal Aluminium may rebound further after it tested the MYR4.17 support recently. As the stock has formed a “Hammer” pattern on 30 May, this indicates a potential rebound. A bullish bias may appear above the MYR4.50 level, with an exit set below the MYR4.17 threshold. Towards the upside, the near-term resistance is at MYR5.05. This is followed by the MYR5.30 level.
Source: RHB Securities Research - 7 Jun 2018
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