Carlsberg Brewery Malaysia may rise higher after it formed a second consecutive white candle. Last Friday’s candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR21.40 level, with an exit set below the MYR20.50 threshold. Towards the upside, the immediate resistance is at MYR23. This is followed by the MYR24 level.

Source: RHB Securities Research - 18 Feb 2019