Looking at the chart for Axiata Group Berhad, here's my analysis:
Current Price Action:
- Trading at RM2.49, up 4.18%
- Breaking out from recent resistance level
- Price moving above all major moving averages
Technical Analysis:
1. Support/Resistance:
- Strong support zone around RM2.20-2.30 (highlighted in purple)
- Previous resistance at RM2.40 now likely to act as support
- Overhead resistance around RM2.60 (previous swing high)
2. Moving Averages:
- All moving averages beginning to turn upward
- Price recently crossed above all MAs
- Potential golden cross forming (short-term MA crossing above long-term MA)
Volume Analysis:
- Recent volume spike supporting the breakout
- September 2024: MYR2.379B (-14.97%)
- Money flow indicator showing improving buying pressure
Notable Price Events:
- March 2024: MYR2.105B (-16.85%)
- June 2024: MYR2.797B (+32.88%)
- Consistent base formation over several months
Trading Considerations:
- Breakout above RM2.40 suggests bullish momentum
- Stop loss could be placed below support at RM2.30
- Initial target at previous resistance RM2.60
- Risk/reward appears favorable at current levels
Current Price Action:
- Trading at RM2.49, up 4.18%
- Breaking out from recent resistance level
- Price moving above all major moving averages
Technical Analysis:
1. Support/Resistance:
- Strong support zone around RM2.20-2.30 (highlighted in purple)
- Previous resistance at RM2.40 now likely to act as support
- Overhead resistance around RM2.60 (previous swing high)
2. Moving Averages:
- All moving averages beginning to turn upward
- Price recently crossed above all MAs
- Potential golden cross forming (short-term MA crossing above long-term MA)
Volume Analysis:
- Recent volume spike supporting the breakout
- September 2024: MYR2.379B (-14.97%)
- Money flow indicator showing improving buying pressure
Notable Price Events:
- March 2024: MYR2.105B (-16.85%)
- June 2024: MYR2.797B (+32.88%)
- Consistent base formation over several months
Trading Considerations:
- Breakout above RM2.40 suggests bullish momentum
- Stop loss could be placed below support at RM2.30
- Initial target at previous resistance RM2.60
- Risk/reward appears favorable at current levels
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.