Stock Picks of the Day: Aurelius Technologies, Power Root

Aurelius Technologies

Aurelius, according to RHB Reseach (Nov 23), is poised for an uptrend reversal as it bounced off the 21-day average line yesterday, while attempting to surpass the immediate resistance of MYR1.69 – firming up its “higher low” bullish pattern. If it manages to break above that level – forming a “higher high” bullish structure – the stock should head north towards the 6-week high of MYR1.81 resistance, followed by MYR1.87, or 7 Oct’s high. Conversely, the stock may reverse direction if it falls below the MYR1.58 support, forming a “lower low” bearish structure beneath the average line.

Power Root

This counter is eyeing a resumption of an uptrend as it bounced off the 21-day average line yesterday, following a recent pullback. If a breakout occurs above the immediate resistance of MYR2.30 – forming a fresh “higher high” bullish pattern – the bulls are expected to propel the stock towards the historical high of MYR2.50, before possibly printing a new high of MYR2.70. The momentum may be reversed if it drops below the strong support of MYR2.19 – trading below the previous major breakout level.

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