KUALA LUMPUR (Feb 19): RHB Retail Research said Permaju Industries Bhd may climb higher after posting a 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 indicates a positive sign.

“A positive bias may emerge above the 85.5 sen level, with an exit set below the 82.5 sen mark.

“Towards the upside, the immediate resistance is at the 92 sen level, followed by the 95 sen threshold,” it said.