KUALA LUMPUR (Dec 26): RHB Retail Research said Pharmaniaga Holdings Bhd may climb higher after posting a long white candle and hitting its highest close in more than four months.

In a trading stocks note today, the research house said in view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook sentiment.

“A bullish bias may emerge above the RM4.20 level, with an exit set below the RM3.80 threshold.

“Towards the upside, the immediate resistance point is at RM5.00. This is followed by the RM5.70 level,” it said.