CYL Corporation Berhad (CYL, 7157)

• Share price closed 5.31% higher at RM1.19 on Friday.

• CYL has rebounded from its support level at RM0.945 with improving buying volume. It is now trading above all key moving average lines. Coupled with indicators showing uptick momentum, the share price is expected to propel higher.

• Resistance levels are identified at RM1.23 (R1) and RM1.30 (R2).

• On the flipside, support levels are pegged at RM0.945 (S1) and RM0.92 (S2).

Source: Rakuten Research - 19 Dec 2022