Power Root posted three white candles in a row and its 20-day EMA has started to turn up yesterday, likely indicating the return of buying interest. The stock also cracked above the RM2.20 resistance and hit a new 52-week high, we believe the uptrend may continue in the near term. A bullish bias may emerge above the RM2.20 level, with a stop-loss set at RM1.97, below 3 Nov’s low. Towards the upside, the near-term resistance level is seen at RM2.40, followed by RM2.50.

Entry : RM2.20–2.22

Target : RM2.40, RM2.50

Exit : RM1.97

Source: AmInvest Research - 8 Nov 2022