AmInvest Research Reports

Stock on Radar - Cloudpoint Technology (CLOUDPT)

AmInvest
Publish date: Thu, 19 Dec 2024, 11:06 AM
AmInvest
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Cloudpoint Technology (CLOUDPT | 0277)

Last Price: RM0.95 | Technical Call: BUY

Technical chart: CLOUDPT

Support 1: RM0.93Resistance 1: RM1.00
Support 2: RM0.88Resistance 2: RM1.05
Shariah Compliant: YesSector: Technology

Cloudpoint Technology's buying interest is back after it broke out of the 2-week bullish rectangle pattern with a long positive candle yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards again, additional upward momentum may be present in the near term. A bullish bias may emerge above the RM0.93 level with stop-loss set at RM0.87, below the 20- day EMA. Towards the upside, near-term resistance level is seen at RM1.00, followed by RM1.05.

Entry: RM0.93-0.95

Target: RM1.00, RM1.05

Exit: RM0.87

 

Source: AmInvest Research - 19 Dec 2024

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