Press Metal Aluminium is attempting to stage a technical breakout after testing the immediate resistance with a white candlestick. The stock charted a white candlestick and closed above the 21-day SMA line yesterday, which shows a bullish momentum is gaining traction. In the event it climbs above the MYR5 resistance, this will confirm a bullish setup.In this case, the counter will continue its upside movement towards MYR5.30, followed by the MYR5.65 level. On the flipside, falling below the MYR4.65 support will invalidate the positive expectation.

Source: RHB Securities Research - 21 Jan 2025