Favelle Favco may climb higher after posting a white candle and leaving an upside gap. Yesterday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR2.60 level, with an exit set below the MYR2.49 threshold. Towards the upside, the immediate resistance is at MYR2.80. This is followed by the MYR2.90 level.

Source: RHB Securities Research - 26 Feb 2019