Heineken Malaysia’s upward momentum may persist after the stock recorded its new 52-week high. This can be viewed as a continuation of the bulls extending the rebound from 28 Jan’s “Hammer” pattern. A positive bias may emerge above the MYR27.70 level, with an exit set below the MYR26.70 threshold. Towards the upside, the immediate resistance is at MYR29. This is followed by the MYR30 level.

Source: RHB Securities Research - 3 Feb 2020