KUALA LUMPUR (Feb 26): RHB Retail Research said Favelle Favco Bhd may climb higher after posting a white candle and leaving an upside gap.

In a trading stocks note today, the research house said yesterday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A bullish bias may emerge above the RM2.60 level, with an exit set below the RM2.49 threshold.

“Towards the upside, the immediate resistance is at RM2.80. This is followed by the RM2.90 level,” it said.