KUALA LUMPUR (Aug 14): RHB Retail Research said Power Root Bhd may rebound further after it tested the RM1.71 support recently.

In a trading stocks note today, the research house said given that the stock has formed a “Bullish Engulfing” pattern on Aug 6, this indicates a potential rebound.

“A bullish bias may emerge above the RM1.78 level, with an exit set below the RM1.71 threshold.

“Towards the upside, the immediate resistance is at RM1.87 level. This is followed by the RM1.94 level,” it said.