Axiata may have a bullish breakout

Axiata has just broken above its short-term downtrend line at RM3.80. As at 9.15am, the stock was up 17 sen to RM3.97.


Chart: Axiata's daily chart as at April 30, 2010_9.05am (Source: Quickcharts)

A cheaper option is to try Axiata-CC, which expired in 5/8/2010. Its main terms are exercise ratio of 5-to-1 and exercise price of RM2.75. At the present price of RM0.22, Axiata-CC is trading at a discount of 3%.

Based on the above technical breakout, Axiata could be a trading BUY.