Cypark has a strong rebound in the past 3 days. This recovery could be brought on by the announcement that it has received the approval from the Negeri Sembilan state government for the lease of a closed landfill site in Pajam, which is to be developed into an integrated renewable energy (RE) park for a period of 21 years. This park, costing RM94.29 million will be developed, is one of three RE parks to be set up in Negeri Sembilan. These 3 RE parks, when fully developed, is expected to generate 50MW of electricity or an annual revenue of RM60 million. Cypark plans to set for RE parks with total generating capacity of 100MW by 2015. For more, go
here.
From the chart below, we can see that Cypark found support at the horizontal line at RM1.70 & staged its impressive rebound. This counter-trend rally has surpassed the strong horizontal line at RM2.00 & it is now breaking above the downtrend line at RM2.25. If Cypark can stay above the downtrend line, the worse is over this stock. The
earlier SELL call should be terminated.
Chart: Cypark's daily chart July 22, 2011_9.45am (Source: Quickcharts)
4 comments:
Hi Alex, will you able to analyse SP Setia for me?
This is JP Morgan Buy call investment report :
We close off our idea 'prefer
IJM Land over SP Setia' (+12.3% from 27 Jan-11) as we see good support for
the stock price around M$3.80 levels (historical mean 16% discount to RNAV
M$4.50). We expect SP Setia to outperform the Malaysia Property index in the
next 3-6 months
Hi Florence
I agree with JP Morgan's analysis on SPSetia. It is probably the top pick for property sector.
The technical outlook for many stocks are like SPSetia- broken & in need of more time to heal. The big question is whether the bullish spirit will return. We will learn soon enough after the initial rebound, when a lull will set in. At that point, investors & traders will look over their shoulder to see whether more will join in the buying or are they the last bulls in the market.
Thanks Alex =)
Hi Alex Can you comment for Hexagon(7455). It's look went down too much but recently I see it will rebound based on golden crossing graph.
Sorry i'm still new in share market and I really appreciate ur advise.
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