May 28, 2014

SELL AirAsia?

AIRASIA BHD | symbol: AIRASIA  |   stock code: 5099

Technical Comments: AirAsia should slip into profit-taking correction given limited near-term upside bias due to overbought momentum, with better retracement supports at RM2.48 (61..8%FR) and RM2.36 (76.4%FR) where investors should return to bargain. Resistance is at RM2.68 (38.2%FR).

airasia_technical above: Airasia Daily Chart (click to enlarge)

by TA Securities

AirAsia is a leading low cost carrier in Southeast Asia.The Group focuses on providing high frequency services on short-haul,point-to-point domestic and international routes.