Rakuten Trade Research Reports

Technical View- AirAsia Group Bhd

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Publish date: Wed, 09 Dec 2020, 08:52 AM
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AirAsia Group Bhd (5099)

• 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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