Power Root broke out from its 1-week bullish flag pattern yesterday, implying that its previous uptrend may have resumed. As its 20-day and 50-day EMAs are converging now and are likely to turn up in the near term, the upward momentum is rising. A bullish bias may emerge above the RM2.00 level, with a stop-loss set at RM1.84, below the 13 Feb low. Towards the upside, the near-term resistance level is seen at RM2.25, followed by RM2.40.

Entry : RM2.00–2.12

Target : RM2.25, RM2.40

Exit : RM1.84

Source: AmInvest Research - 24 Feb 2023