RHB Retail Research
Technical Analysis - Press Metal Aluminium
Press Metal Aluminium
Press Metal Aluminium may move higher after it continued holding above the MYR4.60 support. Given that it has formed a long white candle above the rising 21-day SMA line, this has enhanced the bullish sentiment. A bullish bias may emerge above the MYR4.60 level, with an exit set below the MYR4.60 threshold. Towards the upside, the immediate resistance is at MYR5.16. This is followed by the MYR5.45 level.
Source: RHB Securities Research - 8 Aug 2018
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