Friday, March 06, 2015

PMetal: 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.
at

2 comments:

  1. IvanSaturday, March 07, 2015 11:56:00 AM

    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

    ReplyDelete
  2. Alex LuTuesday, March 17, 2015 4:39:00 PM

    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.

    ReplyDelete