Axis REIT set to reclaim historical high, says RHB Retail Research

KUALA LUMPUR (June 10): RHB Retail Research said Axis REIT is set to reclaim its historical high after rebounding above the previous breakout level of RM1.92 following the recent pullback – firming up its bullish bias above the breakout level.

In a trading stocks note on Friday (June 10), the research house said if positive momentum above this level persists, it may drive the stock towards the RM2.07 historical high, followed by a new high of RM2.10.

“However, the stock may reverse in trend if it falls below the RM1.88 support level – forming a 'lower low' bearish pattern,” it said.