RHB Retail Research
Trading Stocks - Axiata
Axiata broke away from its price congestion zone, which had formed since early January. This indicates a good possibility its correction phase that started from mid-Dec 2020 has reached an end, and an upward extension is expected to take place. A positive bias is likely to appear above MYR3.55 with resistance levels set at MYR3.80 and MYR3.95. A downside breach of MYR3.55 would cancel this trading setup.
Source: RHB Securities Research - 10 Mar 2021
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