KUALA LUMPUR (May 6): RHB Retail Research said Luxchem Corp Bhd may rise higher after it formed a long white candle and breached above the 55 sen threshold.

In a trading stocks note today, the research house said this close has sent the stock to its highest close in more than five months, thereby enhancing the positive sentiment.

“A bullish bias may emerge above the 55 sen level, with an exit set below the 50.5 sen threshold.

“Towards the upside, the immediate resistance is at 60 sen. This is followed by the 63 sen level,” it said.