KUALA LUMPUR (April 22): AirAsia Bhd crossed over the 20-day MA line on April 21 after spending 14 days below the same MA line, according to AllianceDBS Research.
In its evening edition Tuesday, the research house said following the up close on April 21, the stock was expected to test the immediate hurdle at RM2.40.
It said a crossover of RM2.40 should see a further price rise to the next overhead resistance zone of RM2.45 – RM2.50.
AllianceDBS Research said the support was at RM2.33.
“A fall below RM2.33 would put pressure on the stock down to the subsequent support at RM2.28. Stock volume traded on 21 Apr 2015 was 19.7 m shares compared to the 3-month average volume of 7.25 m shares.
“Indicator wise, the MACD is above the 9-day moving average line,” it said.