RHB Retail Research

Trading Stocks - Press Metal Aluminium

rhboskres
Publish date: Mon, 19 Oct 2020, 11:21 AM
rhboskres
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RHB Retail Research

Press Metal Aluminium is poised to extend the uptrend, after breaking past the resistance level of MYR5.27. With the latest price action, we think that the consolidation that started since 3 Sep is completed and ready to move higher. If it continues to trade above the resistance of MYR5.27, the next resistance level will be MYR5.60, followed by MYR6.00. Meanwhile, a downward breach of the MYR5.00 support should cancel this expectation.

Source: RHB Securities Research - 19 Oct 2020

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