Cloudpoint Technology (CLOUDPT | 0277)
Last Price: RM0.95 | Technical Call: BUY
Support 1: RM0.93 | Resistance 1: RM1.00 |
Support 2: RM0.88 | Resistance 2: RM1.05 |
Shariah Compliant: Yes | Sector: 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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Created by AmInvest | Dec 19, 2024