AmInvest Research Reports

Stock on Radar - Powerwell (PWRWELL)

AmInvest
Publish date: Mon, 06 Jan 2025, 12:41 PM
AmInvest
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Powerwell (PWRWELL | 0217)

Last Price: RM0.49 | Technical Call: BUY

Technical chart: PWRWELL

Support 1: RM0.48Resistance 1: RM0.57
Support 2: RM0.45Resistance 2: RM0.60
Shariah Compliant: NoSector: Industrial

Powerwell may trend higher after it surged to a 5-month high and closed above the RM0.48 resistance on Friday. The stock also broke out from the 3-week bullish pennant pattern, likely indicate that the near-term bullish trend may persist. A bullish bias may emerge above the RM0.48 level with stop-loss set at RM0.44, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.57, followed by RM0.60.

Entry: RM0.48-0.49

Target: RM0.57, RM0.60

Exit: RM0.44

 

Source: AmInvest Research - 6 Jan 2025

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