Carlsberg Brewery Malaysia was testing the RM19.70 mark. With a moderate RSI level, a bullish bias may be present above this mark with a target price of RM20.60, followed by RM21.50. Meanwhile, it may continue trending sideways if it fails to cross the RM19.70 mark in the near term. In this case, the immediate support is anticipated at RM18.73, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM19.70

Target: RM20.60, RM21.50 (time frame: 3-6 weeks)

Exit: RM18.73

Source: AmInvest Research - 3 Dec 2018