Power Root is eyeing a resumption of an uptrend as it bounced off the 21-day average line yesterday, following a recent pullback. If a breakout occurs above the immediate resistance of MYR2.30 – forming a fresh “higher high” bullish pattern - the bulls are expected to propel the stock towards the historical high of MYR2.50, before possibly printing a new high of MYR2.70. The momentum may be reversed if it drops below the strong support of MYR2.19 – trading below the previous major breakout level.

Source: RHB Securities Research - 23 Nov 2022