Power Root may rise higher after it closed above the key RM2.30 resistance and hit a new 52-week high yesterday. With the stock pushed higher from its rising 20-day EMA and coupled with a high trading volume, it indicates a positive signal. A bullish bias may emerge above the RM2.30 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM2.45, followed by RM2.65. Towards the downside, stop-loss is set at RM2.12, below the 50-day EMA.

Entry : RM2.30-2.36

Target : RM2.45, RM2.65

Exit : RM2.12

Source: AmInvest Research - 5 Dec 2022