Airasia Group Bhd (5099)

• AIRASIA ended 0.7% or 1 sen lower to RM1.43 last Friday.

• Following the negative news over the weekend against the AirAsia Group coupled of negative sentiment on Coronavirus virus to impact on travelling and tourism, share price is expected to take a hit and fall on the knee jerk reaction on the opening bell today.

• However, investor may consider selling and buying back later for those who have position while those who have no position – this would be also a great opportunity for bargain hunting to grab it cheap as well.

• As such, resistance levels are expected at RM1.73 (R1) and further to RM1.85(R2).

• Conversely, downside support levels are expected at RM1.35 (S1) and RM4 (S2) RM1.20.

Source: Rakuten Research - 3 Feb 2020