AXIATA Group Berhad

• AXIATA broke through its key resistance at RM2.45 on Tuesday, highlighted by a strong Marubozu white candlestick. We foresee continuing upside, supported by the bullish crossover two weeks ago and increased trading volume, indicating strong buying interest.

• Thus, we expect the upward trajectory to steer the stock higher and test the next resistance at RM2.60 (R1) followed by RM2.70 (R2) in the near term.

• On the downside, stop-loss is set at RM2.28.

Source: Rakuten Research - 2 Jan 2025

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