KUALA LUMPUR (Feb 23): RHB Retail Research said Frontken Corporation Bhd may move higher after hitting its highest close in nearly three weeks.

In a trading stocks note today, the research house said yesterday’s candle can be viewed as a continuation of the bulls extending the rebound from Feb 6’s “Hammer” pattern.

“A bullish bias may emerge above the 45.5 sen level, with an exit set below the 39.5 sen threshold.

“Towards the upside, the immediate resistance point is at 52.5 sen. This is followed by the 55 sen level, it said.