Press Metal Aluminum Holdings
Press Metal attempted to rebound from the recent retracement point last week, as it bounced off the support and eyed the MYR5.47 resistance level – forming a “higher low” bullish pattern. If it reclaims the area above that threshold, a counter-trend rebound may take it to the resistance level of MYR5.84, followed by MYR6.05. However, the stock may continue its downtrend if it falls below the MYR5.00 support threshold, thereby forming a “lower low” bearish pattern.
Malayan Flour Mills
Malayan Flour Mills is set to climb upwards as it moved past the MYR0.66 resistance last Friday – forming a “higher high” bullish pattern. If the breakout is sustained, the stock may propel further towards the next resistance of MYR0.69, followed by MYR0.70 – the YTD high. If it falls below the support threshold of MYR0.63, selling pressure may emerge as it forms a “lower low” bearish pattern.
Mega First Corporation
Mega First Corp is set to rebound, as buying pressure emerged since it breached the immediate resistance of MYR3.72 – forming a “higher high” bullish structure and crossing above the 21-day average line. If the momentum is maintained, the stock may trend up towards MYR3.89, then MYR4.05 – its all-time high. Conversely, the momentum may undergo a reversal if it drops below the MYR3.65 support – registering a “lower low” bearish pattern.
Poh Kong
Poh Kong is set to initiate a positive rebound after it jumped above the consolidation phase of MYR0.81 last Friday – forming a “higher high” bullish pattern below the 21-day average line. In in the immediate term, the stock is expected to climb towards the MYR0.845 resistance. This is then followed by the next resistance of MYR0.87. Meanwhile, a drop below the MYR0.79 support may reverse the momentum as it forms a “lower low” bearish structure below the average line.
