AirAsia X is eyeing to extend the bullish trajectory, testing the immediate resistance with high volume. The counter has printed a white candlestick and is poised to close above the MYR2 resistance. We observed that volume has been increasing in tandem with the share price, showing the bullish momentum is gaining pace. If a breakout happens, the stock may climb towards MYR2.15, followed by the MYR2.30 level. A fall below the MYR1.85 support opens the door for a correction.

Source: RHB Securities Research - 20 Nov 2024