Rakuten Trade Research Reports

Technical View - AirAsia Group Bhd (AIRASIA, 5099)

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Publish date: Tue, 28 May 2019, 10:41 AM
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AirAsia Group Bhd (5099)

  • AIRASIA advanced 10 sen or 4.08% to close at RM2.55 yesterday.
  • Chart-wise, AIRASIA is currently trading at an oversold region based on the key momentum indicators. Following its recent price downtrend, we believe yesterday’s rebound coupled with weaker crude oil price is likely to further support the share price recovery from this level.
  • As such, resistance levels are identified at RM2.70 (R1) and further to RM3.00 (R2).
  • Conversely, support levels are expected at RM2.42 (S1) and RM2.30 (S2).

Source: Rakuten Research - 28 May 2019

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