Power Root Bhd (PWROOT, 7237)

• Share closed unchanged at RM2.09 on Thursday.
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• PWROOT rebounded marginally from the support level of RM2.01. Minimum selling pressure was seen yesterday however share price remains above all its key moving average lines. As indicators are still showing uptick momentum, we reckon share price is expected to move higher.

• Resistance levels are identified at RM2.11 (R1) and RM2.26 (R2).

• On the flipside, support levels are pegged at RM2.01 (S1) and RM1.98 (S2).

Source: Rakuten Research - 9 Jun 2023

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