AirAsia X Bhd (5238)

• AAX gained 1 sen or 5.5% to RM0.195 yesterday.
• Share price recovered from its 52-week low of RM0.17 to close at a high of RM0.195 signalling possible bottoming out from long spell of bearish run. Indicators are showing it to be oversold and the technical rebound may have some legs to run.
• As such, immediate resistance level is found at RM0.21 (R1) and next heading to RM0.23.
• On the contrary, support levels are identified at RM0.17 (S1) and RM0.15 (S2).

Source: Rakuten Research - 27 Aug 2019