RHB Retail Research
Trading Stocks - Press Metal Aluminium
Press Metal Aluminium formed a long white candle, indicating that momentum of buying could be strong. As the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced. A positive bias may emerge above the MYR4.75 level, with an exit set below the MYR4.55 threshold. Towards the upside, the immediate resistance is at the MYR5.15 level. This is followed by the MYR5.70 level.
Source: RHB Securities Research - 2 Aug 2019
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