Thursday, June 07, 2012

Airasia- poised to continue its uptrend

Airasia is breaking to the upside of its intermediate downtrend line (AC) at RM3.70. If it can sustain this breakout, the stock may continue with its prior uptrend. At the time of writing, the stock is trading at RM3.74. Based on this bullish breakout, Airasia could be a trading BUY.

Chart: Airasia's weekly chart as at June 6, 2012 (Source: Tradesignum)


Chun Mun said...

Hi Alex,
What do you think about YEELEE?Thank you very much.

limcc said...

Hi Alex,

YTL touched RM2 today. What is the prospect of this counter continuing its uptrend?

Many thanks.

Lim CC

cheer said...

Hi alex

Fajar a good buy now?

Alex Lu said...

hi cheer

Fajar has just broken above its intermediate downtrend line at RM1.00. If it can stay above the RM1.00 mark, the stock may continue to rally from here.

Alex Lu said...

Hi limcc

YTL has broken above its horizontal resistance at RM1.65 in early March. Despite dropping back to RM1.60 in end of April, YTL again broke above the RM1.65 level in May & finally the recent high of RM1.80 in early June. Last Friday, it broke above the psychological RM2.00 mark. The next target could be RM2.10-2.40.

Alex Lu said...

Hi Chun Mun

YEELEE's results has been a disappointment. Prefer Spritzr to YeeLee.

YeeLee's support is at RM0.80 & resistance at RM0.95. It is likely to trade sideway.