The RM1.80 is a confluence of horizontal support, uptrend line support as well we the lower line of a downward channel. I believe that the stock should find its support at this level.
As such, it could be a good entry level for a long-term investment as well as trading BUY for a technical rebound.
Chart: Airasia's monthly chart as at Jun 11, 2015_12.30pm (Source: ShareInvestor)
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.
1 comment:
Hi Alex,
Airasia has dropped a lot recently and what do you think is a good entry point? How about Airasia X?
Thank you.
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