AirAsia Group inched above the RM3.00 level in its latest session. With a rising RSI level, it may trend higher above this point with a target price of RM3.35. Meanwhile, it may continue trending sideways if it dips back below the RM3.00 mark in the near term. In this case, support is anticipated at RM2.75, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM3.00

Target: RM3.35 (time frame: 3-6 weeks)

Exit: RM2.75

Source: AmInvest Research - 17 Jan 2019