Axiata should resume its upward trend after closing above the RM5.40 resistance level for a few days now. A purchase can be made on close above 2-day high of RM5.46, with a close below RM5.28 as stop-loss. The price target is RM6.75, with resistance also expected at RM6.00. Failure to hold above RM5.40 may invite selling, with confirmation on the trigger of stop-loss. Supports are at RM5.10 and RM4.80.
Source: OSK
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