The selldown is probably attributable to foreign funds who collectively may have too much exposure to this stock. They may have been disappointed with Airasia's recent poorer results.
Chart: Airasia's weekly as at June 11
Wednesday, July 12, 2006
Stock Alert- Airasia broke strong support
Airasia broke its horizontal strong at the RM1.44/1.45 levels. It is hard to see what's the next support level. It could be the low recorded immediately after its listing i.e. RM1.25. My recommendation for this stock is to sell or reduce your holding until the dust has settled. Buying at this moment is not adviseable.
The selldown is probably attributable to foreign funds who collectively may have too much exposure to this stock. They may have been disappointed with Airasia's recent poorer results.
Chart: Airasia's weekly as at June 11
The selldown is probably attributable to foreign funds who collectively may have too much exposure to this stock. They may have been disappointed with Airasia's recent poorer results.
Chart: Airasia's weekly as at June 11
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