KUALA LUMPUR (Jan 8): AllianceDBS Research said AirAsia Bhd was taking a pause and that AirAsia had on Jan 7 traded within previous day’s range to form an inside day bar before closing at RM1.39 (down half a sen or 3.47%).

In its evening edition yesterday, the research house said AirAsia fell back below the 50-day MA line on Jan 7 after crossing over the same MA line in the preceding day.

“The inside day bar indicated a breather in the game play.

“Following the down close on Jan 7, the stock is likely to move lower with immediate support at RM1.32.

“A fall below RM1.32 should see further price decline to the subsequent support at RM1.26. The hurdle is pegged at RM1.45. A rise above RM1.45 would lift the stock to the next resistance at RM1.52,”it said.

AllianceDBS Research said stock volume traded on Jan 7 was 39.9 million shares compared to the 3- month average volume of 24.7 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in the neutral zone.