Power Root is eyeing to scale higher after it broke past the resistance on strong volume. Observe that the stock has charted a bullish candlestick on 10 May while volume has increased, signalling strong momentum is underway. If it sustains above the breakout point of MYR2.20, the stock should climb towards the next resistance at MYR2.30, followed by MYR2.40. Towards the downside, falling below the MYR2.13 support will negate the bullish structure.

Source: RHB Securities Research - 15 May 2023