Axiata Group is poised to test the RM3.18 resistance level. With its RSI indicator pointing upwards, coupled with high trading volume, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM3.28 and RM3.48. The downside support is anticipated at RM3.04, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.18

Target: RM3.28, RM3.48 (time frame: 2-4 weeks)

Exit: RM3.04

Source: AmInvest Research - 11 Sept 2020