Round Hedge Stock Research
Technical View - Axiata Group Berhad
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Publish date: Wed, 01 Aug 2018, 10:18 AM
Axiata Group
- YTD, Axiata's share price has fallen 20.04% from RM5.49 to RM4.39.
- The stock appears to be have bottomed out from the downtrend. Recent announcement on the approved Idea-Vodafone merger in India may provide catalyst for further share price recovery.
- As such, we expect follow-through buying towards RM4.49 (R1) and further to RM4.83 (R2).
- Strong support levels which has been tested successfully can be found at RM4.27 (Si) while S2 can be seen at RM3.97.
Source: Rakuten Research - 1 Aug 2018
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