Rakuten Trade Research Reports
Technical View - Cypark Resources Bhd (CYPARK, 5184)
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Publish date: Tue, 15 Oct 2019, 09:03 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Cypark Resources Bhd (5184)
• CYPARK gained 2.94% or 4 sen to RM1.40 yesterday.
• Yesterday’s close saw a breakout from its key 50-day moving average on the back of a bullish key momentum indicator, MACD. Given the positive market sentiment on renewable energy incentives given to solar energy companies during Budget 2020, Cypark being a key beneficiary should see share price to trend higher towards the RM1.50 level.
• From here, resistance levels are expected at RM1.45 (R1) and RM1.55 (R2).
• On the flip side, downside supports levels are seen at RM1.26 (S1) and RM1.23 (S2).
Source: Rakuten Research - 15 Oct 2019
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