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
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.