Power Root may trend higher after it surged to its 11-month high and closed above the RM1.50 resistance a few candles back. As the 20-day and 50-day EMAs have established their bullish crossover since late March, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM1.48 level, with a stop-loss set at RM1.39, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.65, followed by RM1.70.

Entry : RM1.48–1.54

Target : RM1.65, RM1.70

Exit : RM1.39

Source: AmInvest Research - 10 May 2022