AIRASIA X (AAX,5238) 

• AAX closed 1 sen or 3.85% lower to RM0.25 last Friday.
• The share price appears to have bottomed out and has shown signs of recovery of late. We believe the recent plunge of oil price to one-year low could be a potential price catalyst for MX, hence an impending technical rebound.
• Should the price break through the immediate R1 at RM0.265, the upward momentum is likely to continue further to RM0.270 (R2).
• Meanwhile, support levels can be found at RM0.230 (S1) and RM0.225(S2). 

Source: Rakuten Research - 19 Nov 2018