KUALA LUMPUR (April 18): Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

In a technical tracker on Thursday, the research house said Cloudpoint offers a comprehensive range of solutions that can be deployed independently or integrated seamlessly with other existing systems, leveraging on its well-established network of technology vendors such as Cisco, McAfee, Paloalto and others.

HLIB said the formation of a bullish tail bar on Tuesday, subsequent to touching the support region of 55-56 sen (MA100), indicates a potential rebound is underway, provided there is no decisive breakdown below the mentioned support.

“A successful breakout above 65 sen is poised to drive the price towards the levels of 68 sen-70 sen-73 sen.

“Cut loss at 53 sen,” it said.