Power Root is poised to resume its uptrend from the recent pullback as it bounced off the support while eyeing the recent high of MYR1.58 – forming a “higher low” bullish pattern. If it manages to surpass that level, the stock is expected to push further towards the MYR1.64 mark, followed by MYR1.70. Conversely, the bullish momentum may lose steam if it falls below the MYR1.48 support, as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 11 May 2022