Cypark Resources rose and tested the RM0.92 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.96 and RM0.98. The downside support is projected at RM0.86. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.92

Target: RM0.96, RM0.98 (time frame: 2-4 weeks)

Exit: RM0.86

Source: AmInvest Research - 18 Aug 2021