AirAsia was testing the RM2.53 level during its intraday high. With a neutral RSI level, it may move higher above this mark with a target price of RM2.65, followed by RM2.73. Meanwhile, it may drift sideways if it fails to cross the RM2.53 mark in the near term. In this case, support level is anticipated at RM2.45, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM2.53
Target: RM2.65, RM2.73 (time frame: 3-6 weeks)
Exit: RM2.45
Source: AmInvest Research - 28 May 2019
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Created by AmInvest | Nov 25, 2024