Cypark Resources rebounded from its low to test the RM1.35 resistance in its latest session. With a moderate RSI level, there is a possibility it will break above the resistance level and move towards target prices of RM1.41 and RM1.50. If it fails to cross above RM1.35, expect a sideway consolidation movement. Support is anticipated at RM1.26, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.35

Target: RM1.41, RM1.50 (time frame: 3-6 weeks)

Exit: RM1.26

Source: AmInvest Research - 4 Sept 2019