Carlsberg Brewery Malaysia formed a long white candle, indicating that buying momentum could be strong. This close has sent the stock to its new 52-week high, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR20.50 level, with an exit set below the MYR19.20 threshold. Towards the upside, the immediate resistance is at MYR22. This is followed by the MYR23 level.

Source: RHB Securities Research - 7 Feb 2019