Cypark rebounded higher yesterday, attempting to break out from the resistance level marked at MYR1.40. The stock has crossed above the 21-day SMA line, and we believe a bullish bias will emerge above the overhead resistance. If the breakout happens, we expect the momentum to propel the stock towards the next resistance level at MYR1.48, followed by MYR1.55. Meanwhile, a downward breach of the MYR1.25 support will negate this expectation.

Source: RHB Securities Research - 29 Dec 2020