Due to lower fuel prices, Airasia has been rising gradually in the past 6 months. This intermediate trend ran counter the 3-year downward channel, AB-A1B1.
Based on technical outlook & expected improvement in the financial performance (flowing from lower fuel cost), I would rate Airasia a HOLD for now. It could be good for a slow accumulation at RM2.40 mark.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3H75Q_5uGEvwMB3K8YtbJ1YBkW5Iqb-d_6i_JIZGEcIKW_4jOULuAVa-ZGr7QewZjuF2l3-2w3Rv8ZAUs1x8tLnDdtdCRfCpg6GhsD9PtU_1Hr8PnTJxgdai4g_YEXRWa3XB8/s280/Airasia+m20150105.gif)
Chart: Airasia's monthly chart as at Jan 2, 2015 (Source: ShareInvestor.com)
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Airasia.
airasia long term chart scale was wrong..the scale on upper part seem too narrow compared with lower part...The long term support is around 1.60+
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