Any price dips on Axiata towards the lower Bollinger band (RM4.56) should be attractive to bargain for rebound upside to RM4.90, with the 38.2%FR (RM5.15) and 50%FR (RM5.48) acting as tougher resistance. Crucial support is from the 29/11/16 low (RM4.11)
Axiata Daily Chart:
source: TA Securities – 26/7/2017
AXIATA GROUP BERHAD
The Group's mobile subsidiaries and associates operate under the brand name ‘Celcom’ in Malaysia ‘XL’ in Indonesia ‘Dialog’ in Sri Lanka ‘AKTEL’ in Bangladesh ‘HELLO’ in Cambodia ‘Idea’ and ‘Spice’ in India ‘M1’ in Singapore and ‘MTCE’ in Iran (Esfahan).
