Axiata Group’s near-term upside move may persist after it continued holding above the 21-day SMA line. As the 21-day SMA line has crossed above the 55-day SMA line lately, this is an indication of a positive sign. A bullish bias may emerge above the MYR4.55 level, with an exit set below the MYR4.28 threshold. Towards the upside, the immediate resistance is at MYR5.06. This is followed by the MYR5.50 level.

Source: RHB Securities Research - 27 Aug 2018