AirAsia X has rebounded higher after a series of selling down. With RSi above 50%, he may breaks the immediate resistance level of RM0.23 and moves towards short-term target of RM0.255 and RM0.275. Meanwhile, it may continue moving sideways if it fails to cross the RM0.23 mark in the near term. In this case, support is anticipated at RM0.21, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.23

Target: RM0.255, RM0.275 (time frame: 3-6 weeks)

Exit: RM0.21

Source: AmInvest Research - 7 Jun 2019