Axiata's  share pricewill move higher if it breaks above its resistance level. The stock washighlighted in early February for its likelihood of finding bottom and it hasmoved favourably since. After hitting an intraday high of RM5.20, it then spentthe whole of March consolidation the gains. An upward bias, nonetheless, remained throughout the consolidation, asshown by the short term uptrend-line. The 50-day MAV line is similarly risingtoo. Strong buying intent was seen last Friday, where it closed right at RM5.20on a 'Long White' candle, possibly marking the end of the consolidation. Assuch, a close above RM5.20 today should confirm the continuation of the uptrendand purchases can be made if this happens. A close below the psychologicalRM5.00, just below  the March low can betaken as the stop loss, while an aggressive trade may opt for a close belowlast Friday's low of RM5.14 instead. The price target remains at RM5.70 judgingfrom the width of consolidation in  thepast 8 months, while a strong move could see the stock testing RM6.50 ' ameasured move based on the 2010-2011 rally. The stock may trade lower if the stop loss is triggered and support liesat RM4.65, the violation of which could see the end of the 3-year rally.

AMMB's  shareprice  should trade higher  if it breaks above the short-term resistancelevel.  The stock has been trending lowersince peaking in early 2011 but the broad market rebound since Sept 2011 alsobrought a change in trend for the stock. It printed a 6-month high in  early March and thereafter, traded sidewaysand consolidated the gains. An upward bias was present throughout the consolidation,as illustrated by the short-term uptrend-line and rising 50-day MAV line.  The correction was shallow too,  retracing less than 38% of the Dec 2011-March2012 rally. The consolidation may have ended yesterday after closing above  the RM6.30 resistance on a 'Long White' candle. Sentiment is clearly upbeatas the candle was preceded by a gap. As such, positions can be initiated onanother close above RM6.30, which will confirm the breakout. A close below lastweek's low of RM6.16 can be taken as a stop loss. A measured move based on the3-month rally may see the test of the  July-high of RM6.70, althoughresistance is also expected at  the  August-high of RM6.55.  The trade may not work out if the stockcloses below RM6.16, but expect strong support at the psychological RM6.00.

Source: OSK188