KUALA LUMPUR (March 12): RHB Retail Research said Fajarbaru Builder Group Bhd may trend higher after it climbed above the 40 sen mark.

In a trading stocks note today, the research house said yesterday’s candle can be viewed as a continuation of bulls extending the rebound from March 1’s “Hammer” pattern.

“A bullish bias may emerge above the 40 sen level, with an exit set below the 36.5 sen threshold.

“Towards the upside, the immediate resistance is at 43 sen. This is followed by the 47 sen level,” it said.