KUALA LUMPUR (June 18): RHB Retail Research said Favelle Favco Bhd may rise higher after it breached above the RM2.60 threshold.

In a trading stocks note today, the research house said this close has sent the stock to its highest close in more than three months, thereby enhancing the positive sentiment.

“A bullish bias may emerge above the R2.60 level, with an exit set below the RM2.52 threshold.

“To the upside, the immediate resistance is at RM2.74. This is followed by the RM2.83 level,” it said.