PWROOT's uptrend extends to as far back as July 2012. During this one-year duration, the share price almost tripled from 56 sen to yesterday's closing price of RM1.58. Still, the rally has been unrelenting. Yesterday, the share price was up by 5 sen, and PWROOT now looks to be testing the recent high of RM1.60. The indicators are also showing a marked improvement, with the MACD indicator nearing a bullish crossover with the Signal line. The 14-day Stochastic indicator has also hooked upwards, and this signals the possible start to an upcycle. Traders should watch for a breakout above RM1.60, and should this be on the cards, the share price could potentially surge higher towards RM1.85 next. Meanwhile, the downside appears capped at RM1.50.

 

Source: Kenanga