[Swing Trading] :BUY at Retracement-CYPARK
Along 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!
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!
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