KUALA LUMPUR (July 25): RHB Retail Research said Weida (M) Bhd may trend higher after it formed a long white candle and breached above the RM2.05 threshold.

In a trading stocks note today, the research house said yesterday’s close sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A bullish bias may emerge above the RM2.05 level, with an exit set below the RM1.94 threshold.

“Towards the upside, the immediate resistance level is at the RM2.30 level. This is followed by the RM2.50 level,” it said.