Axiata Group Bhd (6888) Trading/Services – RM6.30
above: Axiata daily chart (click to enlarge)
Axiata’s candles endured a sharp fall yesterday losing 5% of its value. It also marks the end of its stock’s sideway trend as well as breaching the uptrend line. It is, therefore, no surprise that its indicators have slipped towards their respective lower limit lines.
As the indicators are still weakening, there are no signs of a rebound as yet and it is likely that its share price will consolidate further. On the downside, the support is at RM6.00. The resistance, meanwhile is at RM6.75.
by Mercury Securities