KUALA LUMPUR (May 21): RHB Retail Research said Heineken Malaysia Bhd may move higher after it posted another white candle and breached above the RM23.00 threshold.

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

“A bullish bias may appear above the RM23.00 level, with an exit set below the RM21.58 threshold.

“Towards the upside, the near-term resistance level is at RM24.00. This is followed by the RM25.00 level,” it said.