Based on technical consideration, Airasia could be a trading BUY.
Chart: Airasia's daily chart as at July 6, 2012_9.45am (Source: Quickcharts)
Friday, July 06, 2012
Airasia poised for its next upleg?
Airasia had broken above its intermediate downtrend line at RM3.60 on May 4. It then went into a consolidation that took the shape of a triangle. Today, it is breaking above that triangle at RM3.80-3.82. If successful, this could be the start of the next upleg for Aiarasia. Its immediate resistance would be the psychological RM4.00 mark and then the recent high of RM4.14.
Based on technical consideration, Airasia could be a trading BUY.
Chart: Airasia's daily chart as at July 6, 2012_9.45am (Source: Quickcharts)
Based on technical consideration, Airasia could be a trading BUY.
Chart: Airasia's daily chart as at July 6, 2012_9.45am (Source: Quickcharts)
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5 comments:
Hi Alex
Could you please comment on MRCB future performance with the impending RRI landbank acquisition. Thank you
Hi bro Alex. Please analyses RUBEREX(7803), since my friend work in this company ask me to buy this stock bcos there will major corporate announcement soon. Bro, can i buy at current level and what is it strong resistance ?
Hi Dom,
To compute the impact of RRI on MRCB will be a major study. i will leave that to the research analysts.
Hi wong
RUBEREX(7803) is a marginally profitable company. Many thought that it is a rubber glove producer, in the same sector as Topglov, Harta, Supermx & Kossan. They are wrong. RUBEREX produces mainly household rubber gloves.
For FY2011, its EPS was only 4.4 sen. At 78.5 sen, RUBEREX is trading at a PE of 18 times. That is full value.
However, its technical outlook is slowly turning positive. It may have broken above a strong horizontal resistance at RM0.75. It may be poised to start its next upleg.
Hi Alex,
re: Airasia, was todays last minute sell down to 3.72 a shakeout? i'm a little worried that it came so late, noticed that epf dumped 2 M.
whats your insight?
many thanks.. great blog.
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