KUALA LUMPUR (Feb 22): RHB Retail Research said AirAsia Bhd’s upside move may persist after it continued holding above the rising 21-day SMA line.

In a trading stocks note today, the research house said as the 21-day SMA line has crossed above the 55-day SMA line recently, this is an indication of a positive sign.

“A bullish bias may appear at above the RM2.60 level, with an exit set below the RM2.35 threshold.

“To the upside, the immediate resistance level is anticipated at RM3.08. This is followed by the RM3.30 level,” it said.