KUALA LUMPUR: OSK Research said Axiata is approaching a tough resistance at the RM4.05 level.

In a research note issued on Wednesday, June 23 it said that since early this year, the stock has at least tested this level not less than five times.

?A break above this level would likely to see its share price accelerate rather quickly. At above the RM4.05 level, the RM4.46 level is the next resistance,? it said.

To the downside, OSK Research is eyeing initial support at the RM3.64 level, followed by the RM3.52 level. In the meantime, Axiata?s mid-term uptrend which started in March 2009 remains intact."