Kenanga Research & Investment

Highlights / Stock Picks of the Day - Airasia Berhad (AIRASIA) – Trading Buy

kiasutrader
Publish date: Tue, 02 Dec 2014, 09:30 AM
Being the main potential beneficiary of plunging crude oil prices. AIRASIA attracted strong investor interest with its share price gaining 21.0 sen (+8.14%) yesterday with a surge in trading volume. From the technical perspective, its share price gapped up yesterday, breaking its multi-year resistance at RM2.60, signaling a potential bull run in the stock. Meanwhile, MACD has staged a positive crossover of the Signal line, coupled with strong buying interest as shown in positive readings gathered from RSI and Stochastic indicators. We view that follow through buying interest riding on the ongoing sentiment could propel the share price to our ‘Rounding Bottom’ measurement objective of RM3.21 with a strict stop-loss capped at RM2.68.
 
 
Source: Kenanga
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