Playing catch-up with the buoyant sentiment in heavyweight consumer stocks was Carlsberg, which on Monday surged 32 sen to RM12.68. With the bullish move, Carlsberg's share price broke above the downward-sloping resistance line to form a long white candlestick. Additionally, the share price has also managed a convincing departure from the RM12.00/12.40 congestion zone, which has significantly improved Carlsberg's technical picture. The 20-day SMA has also completed a golden crossover with the 50-day SMA with the indicators firmly positive. Investors may look to buy on any weaknesses towards the resistance-turned-support level at RM12.45.

Source: Kenanga