RHB Retail Research
Trading Stocks: Cypark Resources
Cypark Resources is attempting to breakout from the sideways zone. The stock has been consolidating sideways for the past two months, with the immediate resistance marked at MYR1.50. A successful breakout from the resistance will see the stock trading higher to test the next hurdle at MYR1.57, followed by MYR1.70. A downside breach of the MYR1.36 support would negate this expectation, and shall see a stock price correction.
Source: RHB Securities Research - 9 Feb 2021
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