RHB Retail Research
Trading Stocks - Power Root
Power Root rebounded from a low, ready to test the resistance level of MYR2.13. Note that during the latest session, it formed a long tail or a lower shadow. As such, we believe there is buying interest to support the share price. If it breaks past the resistance, expect the bullish momentum to reach the next resistance of MYR2.20, followed by MYR2.26. A downside breach of the MYR2.06 support would nullify this expectation.
Source: RHB Securities Research - 16 Oct 2020
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