RHB Retail Research
Technical Analysis - Press Metal Aluminium
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Press Metal Aluminium’s buying momentum may have returned after it rose above the 21-day SMA line. The upward momentum would likely continue, given it has breached above the downtrend line drawn in the chart. A bullish bias may emerge above the MYR4.22 level, with an exit set below the MYR3.93 threshold. Towards the upside, the immediate resistance is at MYR4.62. This is followed by the MYR5.00 level.
Source: RHB Securities Research - 20 Jul 2018
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