RHB Retail Research
Technical Analysis - Power Root
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Power Root formed a long white candle, which indicates that the buying momentum could be strong. The 21-day SMA line is now likely to turn upwards, which suggests that additional strength may be present in the near term. A bullish bias may appear above the MYR1.60 level, with an exit set below the MYR1.40 threshold. Towards the upside, the near-term resistance is at MYR1.90. This is followed by the MYR2.04 level.
Source: RHB Securities Research - 7 Jun 2018
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