Heineken Malaysia inched above the RM20.21 resistance level in its latest session. With a healthy RSI level, it may move higher above this mark with a target price of RM22.13, followed by RM23.14. Meanwhile, it may drift sideways if it falls back below the RM20.21 mark in the near term. In this case, support is anticipated at RM19.10, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM20.21

Target: RM22.13, RM23.14 (time frame: 3-6 weeks)

Exit: RM19.10

Source: AmInvest Research - 13 Dec 2018