KUALA LUMPUR (Oct 28): RHB Retail Research said Power Root is set to undergo a strong uptrend, after it rose above the 2-month consolidation level of RM1.39, thereby printing a “higher high” bullish pattern with a “White Marubozu” candlestick.
In a trading stocks note today, the research house said if the breakout is sustained, the bullish momentum may propel the stock towards the nearest resistance of RM1.63, then the RM1.70 threshold.
“That said, this expectation will be nullified if it falls below the support level of RM1.36,” it said.