DJ MARKET TALK: Accumulate Axiata Ahead Of Bullish Breakout -OSK

0100 GMT [Dow Jones] STOCK CALL: Accumulate Axiata (6888.KU) above MYR3.00 as stock likely to end its consolidation phase when KLCI starts to trend higher, says OSK technical analyst Shin Kao Jack. Eyes MYR3.70 as upside target, but expects resistance at MYR3.18 and MYR3.24. Pegs cut-loss at below MYR2.90. To downside, immediate support seen at MYR3.00, followed by MYR2.90. "The immediate technical outlook of Axiata is currently Neutral, but will turn bullish once it cracks above the recent trading range," says Shin. Notes also stock has been on a steady rising trend since March, more than doubling in value to close at MYR3.10 (+0.3%) Friday. (VGB)