Press Metal Aluminium Holdings is poised to break past the recent high, as it bounced off its immediate support while forming a “higher low” bullish pattern and heading towards MYR6.25. If it manages to reclaim above that level, the bulls may head into uncharted territory at MYR7.00, followed by MYR7.50. However, the momentum may dissipate if it falls below the MYR5.98 support – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 31 Jan 2022