Airasia's uptrend may continue

After recording a high of RM2.15 on May 7, Airasia share price has been drifting lower. Yesterday, it broke above that short-term downtrend line at RM1.98. This breakout was accompanied by a pick-up in volume. With this breakout, the near term outlook for Airasia has turned bullish.


Chart : Airasia's daily chart as at October 11 (courtesy of Quickcharts)