Heineken Malaysia was testing the RM26.50 level during its intraday high. With a rising RSI, it may move higher above this mark with a target price of RM27.30, followed by RM27.80. Meanwhile, it may drift sideways if it fails to cross the RM26.50 mark in the near term. In this case, support is anticipated at RM25.86, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM26.50

Target: RM27.30, RM27.80 (time frame: 3-6 weeks)

Exit: RM25.86

Source: AmInvest Research - 2 Dec 2019