• AIRASIA advanced 6 sen or 7.3% to RM0.88 yesterday.
• AIRASIA flew above key resistance level of RM0.835 level yesterday after a short bout of consolidation. Recent trading activities saw the emergence of buying interest as share price has seen it trade above key moving average lines.
• Hence, we expect share price to continue gaining momentum potentially flying towards RM1.00 as it is one of the key beneficiaries of recovery plays.
• From here, resistance levels are expected at RM0.945 (R1) and RM1.00 (R2) level.
• For the downside, support levels are at RM0.75 (S1) and RM0.70 (S2).
Source: Rakuten Research - 10 Dec 2020
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Created by rakutentrade | Nov 05, 2024