PMETAL (8869) : Testing its Downtrend Line

PMETAL (8869) : Testing its Downtrend Line

Yesterday, PMetal broke above its downtrend line at RM3.08-3.10. As at 12.30pm, it closed at RM3.17. Its warrant, PMetal-WC is pressing against the downtrend line at RM2.00.

If PMetal can stay above the RM3.10 level, the upside breakout is valid and the stock may continue to rise. Thus, PMetal could be a potential Trading Buy.


Chart 1: PMetal's weekly chart as at Mar 6, 2015_12.10pm (Source: ShareInvestor.com)


Chart 2: PMetal-WC's weekly chart as at Mar 6, 2015_12.10pm (Source: ShareInvestor.com)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, PMetal & PMetal-WC.

 http://nexttrade.blogspot.com/2015/03/pmetal-testing-its-downtrend-line.html