AirAsia needs a decisive breakout above the upper Bollinger band
AIRASIA BHD - symbol: AIRASIA | stock code: 5099
above: Air Asia Daily Chart (click to enlarge)
Technical Comments: AirAsia needs a decisive breakout above the upper Bollinger band (RM2.57) to boost upside towards RM2.72 (76.4%FR) and RM2.89 (61.8%FR), with stronger profit-taking resistance expected at RM3.03 (50%FR). Support from the lower band is reinforced by the 50-day moving average (RM2.40).
above: Air Asia Technical Reading (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.
