Axis REIT is set to reclaim its historical high after rebounding above the previous breakout level of MYR1.92 following the recent pullback – firming up its bullish bias above the breakout level. If positive momentum above this level persists, it may drive the stock towards the MYR2.07 historical high, followed by a new high of MYR2.10. However, the stock may reverse in trend if it falls below the MYR1.88 support level – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 10 Jun 2022