Naked Chart Trading: CLOUDPT 12 Jun 2024

Few months earlier, CLOUDPT is acquiring a 75% equity interest each in Unique Central Sdn Bhd (UCSB) and Uniqcen Sales & Services Sdn Bhd (USSSB) for a total of RM26.78 million cash.

UCSB is principally engaged in supplying, delivering and installation of data centres, data cabling, fibre optic works, as well as mechanical and electrical services, while USSSB is an electrical contractor.

being another beneficial of AI development theme, I think market factoring in that CLOUDPT will get some slices of cake from the data centres.

Long term trend: Breakout from sideway, initiate a new bull trend

Short term trend: More to bullish with higher highs & lows

Fibo analysis (Apr 2024 low to May 2024 high): Extension analysis indicated that the price is currently testing 123.6%, close above RM0.860 to trigger more upside

Resistance: RM0.900, RM0.930, RM0.960, RM1.05

Support: RM0.780, RM0.690, RM0.580

Expect to sustain above RM0.700 for now.

Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.