Malaysia's Press Metal Aluminium may fall further - technicals

Pradeep Metals

23/01/2019 06:51

** Shares of Press metal Aluminium Holdings  PMET.KL  could
fall further after a more than 14 pct fall this year so far,
technical charts show
    ** Stock's 50-day exponential moving average looks set to
cut below the 200-day exponential moving average, a bearish sign
    ** Trend intensity indicator is rising, suggesting a strong
downtrend
    ** MACD is negative and below the signal line
    ** Stock is down more than 6 pct on Wednesday, compared with
its broader index's  .KLSE  fall of about 1 pct

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PMET    https://tmsnrt.rs/2T9iiiH
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 (Reporting By Patturaja Murugaboopathy)
 ((patturaja.murugaboopathy@thomsonreuters.com;))