April 23, 2018
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Buzz: Press Metal could fall further — technicals

(April 5): Shares of Press Metal Aluminium Holdings could fall further after a more than 20% drop so far this year, technical charts show

** Stock has cut below its 200-day simple moving average this week, a bearish sign

** Also cuts below a Fibonacci support level at RM4.23, the 50% retracement level of the uptrend from July 2017 low to February 2018 high

** MACD is negative and below the signal line

** Broader index is up 2.3% this year


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