Cypark Resources bounced from its low and tested the RM0.915 resistance level. With its RSI pointing upwards, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.945 and RM0.96. The downside support is projected at RM0.885. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.915

Target: RM0.945, RM0.96 (time frame: 2-4 weeks)

Exit: RM0.885

Source: AmInvest Research - 10 Nov 2020