RHB Retail Research
Trading Stocks - Press Metal Aluminium
Press Metal Aluminium formed a long white candle, indicating that the momentum of buying could be strong. Yesterday’s candle can be viewed as a continuation of the bulls extending the rebound from 15 May’s “Bullish Engulfing” pattern. A bullish bias may appear above the MYR4.34 level, with an exit set below the MYR4.16 threshold. Towards the upside, the near-term resistance is at MYR4.60. This is followed by the MYR4.80 level.
Source: RHB Securities Research - 30 May 2019
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