Carlsberg Brewery’s buying momentum may have returned after it rose above the 21-day SMA line. As the 21-day SMA line has crossed above the 55-day SMA line lately, this is a positive sign. A bullish bias may emerge above the MYR19.30 level, with an exit set below the MYR18.80 threshold. Towards the upside, the immediate resistance is at MYR20.40. This is followed by the MYR21.00 level.

Source: RHB Securities Research - 13 Dec 2018