Power Root is set to print its 52-week high after it underwent a breakout above the MYR1.92 resistance-turned-support during Tuesday’s session, on stronger trading volume – forming a “higher high” bullish pattern. This, with the “White Marubozu” bullish candlestick printed during the latest session, may push it towards MYR2.13 ie the high of 17 Nov 2020, before hitting the next resistance of MYR2.22 (3 Jul’s high). If it falls below the MYR1.84 support, the momentum may reverse direction as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 2 Sept 2022