Cypark Resources Bhd (CYPARK, 5184)

• Share price closed 4.80% higher at RM0.765 on Monday.

• CYPARK entered into a consolidation mode after reaching its 52-week peak of RM1.23 on Fed-23.The stock has sound its support level at RM0.695. Share price is testing to break its resistance of RM0.77 before settling at its current level with high buying momentum. Coupled with bullish MACD crossover, share price is expected to propel higher.

• Resistance level are identified at RM0.77 (R1) and RM0.80 (R2).

• On the flipside, support levels are pegged at RM0.695 (S1) and 0.685 (S2).

Source: Rakuten Research - 29 Aug 2023

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