Cloudpoint Technology is eyeing to stage a bullish breakout after the bullish momentum picked up speed again. The counter printed a long white candlestick last Friday, which suggests the momentum is shifting to a positive gear. In the event it breaks past the MYR0.97 resistance, this will attract fresh buying pressure. If this happens, the stock may climb towards MYR1.05, followed by the MYR1.15 level. On the other hand, falling below the MYR0.90 support resumes the downside movement.

Source: RHB Securities Research - 20 Jan 2025