Axiata Group surged past the resistance price of RM5.00 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach target prices of RM5.31 and RM5.41. If it dips below RM5.00, it will continue to move sideways and consolidate. Support price is anticipated at RM4.60 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on uptrend above RM5.00

Target: RM5.31, RM5.41 (time frame: 3-6 weeks)

Exit: RM4.60

Source: AmInvest Research - 20 Jun 2019