Jan 28, 2016

AirAsia X - Technical Buy

Stock Code: 5238    52 Week High: 0.690      52 Week Low: 0.150

airasia x target price

airasia x chart analysis

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

The Company's principal activity is providing low-cost long haul air transportation services.