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
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