Quick take: Cypark shares possible for bottom fishing

September 23, 2019 editor Cypark, Stock On The Move

KUALA LUMPUR: Cypark Resources Bhd’s shares is staging for potential recovery from its prior downtrend, according to PublicInvest Research.

The environmental engineering firm added 2.22%, or three sen to RM1.38.

PublicInvest said Cypark shares were possible for bottom fishing.

“Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in nearterm.

“Should resistance level of RM1.43 be broken, it may continue to lift price higher to subsequent resistance level of RM1.54, ” the research house said.

However, PublicInvest cautioned that failure to hold onto support level of RM1.32 may indicate weakness in the share price and hence, a cut-loss signal.

It said the stop loss level was at RM1.28.

Source: TheStar