Press Metal Aluminium is poised to extend the upside movement after breaking past the resistance on high volume.
The stock has closed above the MYR5 resistance with a bullish candlestick.
The trading volume has been increasing in tandem with the share price, suggesting the underlying momentum is bullish.
Riding on the momentum, the counter should travel towards MYR5.40, followed by the MYR5.75 level.
On the flip side, falling below the MYR4.65 support negates the bullish setup.
VS Industry is eyeing to stage a counter-trend rebound, testing the immediate resistance on strong volume.
The stock has charted a bullish candlestick, showing that the positive momentum is picking up pace again.
If it breaks past the MYR1.06 resistance, this will accelerate the bullish momentum.
In this case, the counter should climb towards MYR1.12,
followed by the MYR1.20 mark.
On the other hand, breaching below the MYR1 support resumes the correction phase.
