KUALA LUMPUR (Jan 30): RHB Retail Research said Xin Hwa Holdings Bhd may rise higher after it recently recovered above the 80 sen threshold.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this also implies a positive outlook.

“A bullish bias may appear above the 80 sen level, with an exit set below the 75 sen threshold.

“Towards the upside, the near-term resistance is at 90 sen. This is followed by the 98 sen level,” it said.