KUALA LUMPUR (August 11): RHB Retail Research said Cypark Resources Bhd is poised to climb further, after attempting to surpass its immediate resistance level of 45.5 sen yesterday, on strong trading volume.

In a trading stocks note today, the research house said if the stock manages to breach this level – forming a “higher high” bullish structure – the momentum may drive the stock further towards the next resistance at 49.5 sen (June 27’s high), followed by 52 sen, or May 25’s high.

“However, the stock may reverse its direction if it falls below the 40 sen support, as it would form a “lower low” bearish pattern,” it said.