KUALA LUMPUR (June 3): RHB Retail Research said Pharmaniaga Holdings Bhd may rise higher after it formed a second consecutive white candle.

In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the upward momentum from May 17’s upside gap.

“A bullish bias may emerge above the RM2.57 level, with an exit set below the RM2.40 threshold.

“Towards the upside, the immediate resistance is at RM2.76. This is followed by the RM2.90 level,” it said.