Stock Code: 5238 52 Week High: 0.690 52 Week Low: 0.150
Resistance level broken. After sliding on a downtrend, AAX’s
share was trading sideways since June 2015. We note strong buying interests have
emerged for the past three days and managed to break the resistance level of
RM0.225 yesterday. Significant trading volume of an average 56.0m shares for the
past three days, versus 10-day average of 22.9m signifies the strong buying
momentum and may continue to lift price higher. Should the price manage to
surpass RM0.255 level, share price might swing to the next resistance level and
we peg our TP at RM0.275.
However, failure to hold at support level of RM0.20 may
indicate weakness in the share price and hence, a cut-loss signal.
Please refer to our Company Update report on AAX (Expecting
better year ahead, 28 January 2016)
Source: PublicInvest Research – 28/01/2016
AIRASIA X BERHAD
The Company's principal activity is
providing low-cost long haul air transportation services.
