AirAsia Group jumped from its low and is poised to touch the RM0.755 resistance level. With its RSI indicator trending upwards, coupled with a bullish white candle stick pattern, there is a good chance it will break out and head towards the short-term target price of RM0.795, followed by RM0.84. The downside support is marked at RM0.67. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.755
Target: RM0.795, RM0.84 (time frame: 2-4 weeks)
Exit: RM0.67
Source: AmInvest Research - 17 Nov 2020
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