Axis Real Estate Investment Trust was testing the RM1.89 level in its latest session. With a rising RSI, it may trend higher above this point with a target price of RM1.96, followed by RM2.03. Meanwhile, it may continue trending sideways if it fails to cross the RM1.89 level in the near term. In this case, support is anticipated at RM1.81, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.89

Target: RM1.96, RM2.03 (time frame: 3-6 weeks)

Exit: RM1.81

Source: AmInvest Research - 15 Aug 2019