KUALA LUMPUR (March 14): RHB Retail Research said MBM Resources Bhd may climb higher after forming a long white candle and hitting its new 52-week high.

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 implies a positive outlook sentiment.

“A bullish bias may emerge above the RM2.73 level, with an exit set below the RM2.60 threshold.

“Towards the upside, the immediate resistance is at RM3.00. This is followed by the RM3.20 level,” it said.