KUALA LUMPUR (June 24): RHB Retail Research said Pharmaniaga Holdings Bhd may climb higher after forming a white candle and hitting its highest close in nearly five months.

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

A bullish bias may emerge above the RM2.63 level, with an exit set below the RM2.47 threshold.

“Towards the upside, the immediate resistance is at RM2.83. This is followed by the RM2.93 level,” it said.