PMetal : Riding the uptrend

13th APRIL : taken RM300 profits yesterday on PMETAL-cw

PMETAL Weekly Chart — Riding the Uptrend, Managing the Risk

The weekly chart of PMETAL continues to tell a very clean story — a strong, sustained uptrend that has been developing steadily since mid-2025. Price structure remains bullish, with higher highs and higher lows clearly intact, supported by consistent volume expansion during key breakout phases.

From a structural standpoint, the trend is healthy.

After spending months consolidating around the RM4.80–RM5.50 range, PMETAL began its markup phase, accelerating through Q4 2025 into early 2026. The rally has been orderly rather than parabolic, which is typically a good sign for trend sustainability.

Key Observations

Strong Trend Continuation

The price is now hovering around RM7.95, just below the recent high and not far from the 52-week high at RM8.26. This shows strength — the stock is not pulling back aggressively despite being extended

Support Holding Well

The RM7.00–RM7.10 zone stands out as a key support level. This was previously a resistance area and has now flipped into support — a classic bullish behaviour.

Volume Confirmation

The breakout phases were supported by rising volume, particularly during late 2025 and early 2026. This suggests institutional participation rather than just retail-driven momentum.

RSI Behaviour

RSI has been trending above mid-levels and recently cooled off from overbought territory. This is constructive — it allows the stock to reset without damaging the trend.

Trading Perspective

At this stage, PMETAL is not in an early-entry zone anymore. It is in a trend continuation phase.

There are generally two ways to approach this:

• Pullback Entry

• Wait for retracement toward the RM7.00 support zone. This offers better risk-reward and aligns with trend-following principles.

• Breakout Entry

• A clean breakout above RM8.00–RM8.30 with volume could trigger the next leg higher. This is more aggressive and requires tight risk management.

Risk Management

The biggest mistake at this stage is chasing price blindly.

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If entering:

• Cut loss should be clear — below RM7.00 invalidates the immediate bullish structure.

• Position sizing becomes important as volatility increases near highs.

Big Picture

PMETAL remains one of the cleaner trending charts in the market right now. As long as the higher-low structure holds, the bullish bias remains intact.

However, traders should shift their mindset from “early accumulation” to “trend management”.

This is no longer about finding the bottom — it’s about respecting the trend, waiting for the right entry, and managing risk properly.

Conclusion

The trend is your friend — but only if you don’t overpay for it.

Patience at this stage will likely reward better entries, whether through pullback or breakout confirmation. Until then, PMETAL remains firmly on the watchlist as a strong trending candidate.

Disclaimer : Trade at your own risk ... treat me 'coffee'if u profit from my posts, ya.