AXIS Real Estate Investment Trust retreated after failing to break above the resistance price of RM1.85. With a moderate RSI, its uptrend momentum may resume if it breaks above RM1.85 in upcoming sessions. If this happens, its short-term target price will be RM1.90 followed by RM1.93. The support price is anticipated at RM1.78, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.85
Target: RM1.90, RM1.93 (time frame: 3-6 weeks)
Exit: RM1.78
Source: AmInvest Research - 11 Oct 2019
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Created by AmInvest | Nov 25, 2024