Airasia Stock Code: 5099
AirAsia may climb higher after inching above the MYR1.40 level, albeit marginally, to touch the 100-day MAV line. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.60. The stock may consolidate if it cannot hold above the MYR1.40 level. In this case, further support is anticipated at MYR1.20, where traders can exit upon a breach.
by RHB Research
The Company 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.