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.
2 comments:
Thanks for the sharing.
What does it implied with PMETAL-WC are traded at discount with details as below?
Maturity Date : 22/08/2019
Revised Exercise/ Strike/ Conversion Price : MYR 1 1000
Exercise/ Conversion Ratio : 1:1
Hi Ivan,
PMetal-WC will move in line with PMetal. It surpassed its downtrend line in early March at RM2.00 as well as its horizontal resistance at RM2.20. The later will serve as a support for now. Its next resistance will be at RM2.40 & RM2.50.
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