RHB Retail Research
Technical Analysis - Press Metal Aluminium
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Press Metal Aluminium may rise higher after it recently breached above the downtrend line drawn in the chart. In view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook sentiment. A bullish bias may appear above the MYR4.50 level, with an exit set below the MYR4.10 level. To the upside, the near-term resistance is at MYR4.85. This is followed by the MYR5.16 level.
Source: RHB Securities Research - 31 Jul 2018
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