CYPARK shed 3.0 sen (1.23%) yesterday to close at RM2.40 with declining trading volume. Overall trend remains bearish with its share price trading below all 3 of its key SMAs. Meanwhile, MACD continues its downtrend in negative divergence to the Signal line. However, a potential rebound could be around the corner with its Stochastic indicator hooking upwards and RSI indicator trending towards the oversold territory, indicating winding down of selling pressure. Its share price could retest its strong support at RM2.35 (S1) and traders are advocated to look out for reversal signals to capitalize on the potential share price rebound in the near term.

 

 

Source: Kenanga