PETALING Tin Bhd (Ptg Tin; Code: 2208) dropped to a near four-year low of 19.5 sen on Aug 28, 2015 during the previous correction phase. Soon after finding a shelter, prices bounced off the ebb slightly to trade in a see-sawed pattern on bargain hunting interest alternated with continuous profit-taking selling, undergoing consolidation.
That period of consolidation lasted 18 months before a fresh bout of buying momentum emerged unexpectedly to propel this counter higher, which witnessed Ptg Tin shares hitting a peak of of 36.5 sen during intra-day session yesterday, the best level since Sept 24, 2013, but reversed trend to finish slightly easier. Never mind of the negative close yesterday.
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