Power Root broke out from its 3-month bullish triangle pattern 2 sessions ago, implying that its previous uptrend may have resumed. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM2.16 level, with a stop-loss set at RM2.02, below the 25 Apr low. Towards the upside, the near-term resistance level is seen at RM2.40, followed by RM2.50.

Entry : RM2.16–2.19

Target : RM2.40, RM2.50

Exit : RM2.02

Source: AmInvest Research - 12 May 2023