CYPARK
Cypark. It’s not easy to catch “a falling knife”..26/May/221)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
Disclaimer
CYPARK Ascending Triangle Forming a perfect ascending triangle at 50-50 risk/reward ratio with support at 1.370 support and 1.590 resistance. It had some challenges to break the 1.480~1.520 zone. Once this zone becomes a good support, it won’t have problem to break out from its 1.590 resistance.
Renewable energy is an important aspect of EV theme and together with Solarvest and Saimaden, this counter has bright future prospect.
Disclaimer: Trade at your own risk.
[Swing Trading] :BUY at Retracement-CYPARKAlong with the news that a war may start between USA and Iran, the whole market closed today with a panic sell down(KLCI dropped 21.94 point to 1589.10).
At the same time, CYPark had also dropped to its support level (RM1.450, Fibonacci at 0.382 level), which gave us a chance to buy in the stock. Overall, CYPark is in uptrend and hence I believe that the stock would continue to rise in coming weeks to RM1.670, giving us a return of 15%.
The support would be around the recent gap up area (RM1.39-RM1.43). If the price cannot maintain above the gap, then the uptrending momentum is getting lesser, a cut loss should be done.
TP 1: RM1.61
TP 2: RM1.67
Cutloss: RM1.39
Remark: Trade at your own risks!
