RHB Retail Research
Trading Stocks - Power Root
Power Root formed a long white candle, indicating that the buying momentum could be strong. Given that the stock has recently breached above the downtrend line drawn in the chart, this indicates a positive sign. A positive bias may emerge above the MYR2.35 level, with an exit set below the MYR2.25 threshold. Towards the upside, the immediate resistance is at the MYR2.55 mark, followed by the MYR2.70 level.
Source: RHB Securities Research - 17 Feb 2020
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