AirAsia Group rebounded after hitting the strong RM2.42 support level during recent sessions. With a neutral RSI, it may continue to climb above the resistance level of RM2.57. If this happens, its short-term target price will be RM2.74 followed by RM2.89. Meanwhile, the support level is anticipated at RM2.42, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.57

Target: RM2.74, RM2.89 (time frame: 3–6 weeks)

Exit: RM2.42

Source: AmInvest Research - 26 Apr 2019