Power Root may rebound further, says RHB Retail Research

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KUALA LUMPUR (May 16): RHB Retail Research said Power Root Bhd may rebound further after it tested the RM1.27 support recently.

In its trading stocks note today, the research house said given that it has formed a white candle for the second consecutive day, the positive sentiment has been enhanced.

“A bullish bias may appear above the RM1.35 level, with an exit set below the RM1.27 threshold.

“Towards the upside, the near-term resistance is at RM1.43. This is followed by the RM1.48 level,” it said.