Tuesday, July 26, 2011

Axiata may continue with its prior uptrend

Axiata Has just broken above its recent high of RM5.09-5.10. From the chart below, we can see that in the past 3 upside breakout above a horizontal resistance, Axiata has put in a gain of at least 50 sen. The upside breakout today is accompanied by good volume and it is happening in a rather challenging market. The contrarian instinct in me says this could be a genuine breakout.


Chart: Axiata's weekly chart as at July 26, 2011_4.30pm (Source: Quickcharts)
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3 comments:

  1. vincentTuesday, July 26, 2011 11:09:00 PM

    Hi Alex,

    Can you explain more in detail of what is the purpose of share buy back and what could be the story behind this?

    ReplyDelete
  2. AnonymousTuesday, July 26, 2011 11:21:00 PM

    I took higher risk to add position of AXIATA at 5.0

    ReplyDelete
  3. HengWednesday, July 27, 2011 6:03:00 AM

    HI Alex,
    Good day!

    Do you think the music will stop soon?
    Pls advice.

    Thanks

    ReplyDelete