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A Walk in the Park with Cypark Resources Berhad (5184)

Lately, I have been searching for a company which has good profit margins, a business model which is non-conventional (i.e., not manufacturing, banking, plantation, and trading in nature), and resilient to external market shocks. I hope I have found the right company! This week I will be looking at Cypark Resources Berhad (5184). Cypark is a company that is involved with the provision of environmental solutions. It has 4 main business segments which are: 1. Environmental engineering: Provision of nature conservation and environmental improvement services. 2. Landscaping and infrastructure: Provision of landscape services, project management services, and infrastructure development. 3. Maintenance: Provision of specialist maintenance works on leachate treatment plants, landscape services for parks, and maintenance of public amenities. 4. Green technology & renewable energy: Solar panel, biogas, biomass, waste-to-energy, and other renewable energy project
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Technical Analysis Review: FBMKLCI (2/2/2018)

It has been awhile since I last reviewed the FBMKLCI. My last review was on 26/11/2017. During that time I was bearish on the FBMKLCI and highlighted that the immediate support was around 1,700 points. Do check out my review HERE. I came close though, the FBMKLCI reached 1,708 points in December 5, 2017. Ever since then, the FBMKLCI has rallied to a high of 1,880 points as of February 2, 2018.

Overall, the FBMKLCI is in an uptrend, potentially taking a breather at 1,880 points.

Chart 1: FBMKLCI


From the price action, I noticed that currently FBMKLCI is oversold and has met immediate resistance at 1,880. The Relative Strength Index (RSI) and the Stochastic Indicator also shows that the index is oversold.

Despite the FBMKLCI being oversold, I cannot for sure say that prices will immediately turn south. Probably consolidating before continuing in its uptrend. Based on price action, I think prices may retrace due to the oversold conditions. The cautious sentiment was echoed around the Asian region as most major indexes retreated today.

Technical Support and Resistance levels:
Support:
S1: 1,850
S2: 1,820

Resistance:
R1: 1,880
R2: 1,900

Final thoughts
Due to the impending elections this year, the continued positive effect on the FBMKLCI should persist. In addition, the strengthening of the MYR against the USD had its positive effect on the bourse. However, I would prefer that the MYR not strengthen too much as this would be a bane for exporters.

Do check our my recent articles on these companies and find out more if they fit your investment objectives:
Johore Tin
Apollo Food Holdings
Mikro MSC Bhd
Zhulian

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