AIRASIA

Sector: Consumer Products & Services (Travel, Leisure & Hospitality)

Analyzed on 24/10/2021

Following up from our previous analysis, we anticipated the share price of AirAsia to retrace to its EMA25/50 to find support after the interstate travel reopen hype. True enough, AirAsia is currently at EMA25 level, ended the week with a relatively longer tail candlestick pattern. Although the future seems to be brighter with business & travel reopening, AirAsia still struggles to return to profitable. Furthermore, AirAsia’s subsidiary, AirAsia X, has recently declared huge losses in its quarterly earnings and struggled to repay its debt. Should AirAsia continue to decline, we may see it testing its RM1.00 support.

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