Possible for trend reversal. CYL is potentially staging a breakaway from its prior downtrend, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.700 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.765.
However, failure to hold on to support level of RM0.630 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 30 Mar 2023
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