Press Metal may test its historical high after it broke above the immediate resistance of MYR5.08 on high trading volume yesterday. The long white body candlestick that ended the recent pullback suggests that the uptrend momentum has begun. As such, the bullish momentum is expected to drive the stock towards the next resistance of MYR5.48, before hitting MYR6.00. Meanwhile, breaching below the MYR4.90 support would see the momentum fade away.

Source: RHB Securities Research - 18 Aug 2021