Rakuten Trade Research Reports

Technical View- AirAsia Group Bhd

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Publish date: Wed, 11 Nov 2020, 11:23 AM
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AirAsia Group Bhd (5099)

• AIRASIA advanced 27.1% or 14.5 sen to RM0.68 yesterday.

• Chart-wise, share price is likely to have bottomed out from the recent low with yesterday’s reversal pattern due to encouraging vaccine development indicating near term positive outlook on the aviation industry. We expect a follow through buying to continue with further upside.

• As such, resistance levels are set at RM0.73 (R1) and RM0.84 (R2) level.

• On the downside, support levels are at RM0.535 (S1) and RM0.500 (S2).

Source: Rakuten Research - 11 Nov 2020

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