AA has flew up 90Cents ! Are we able to sustain above the weekly resistance ?
Airasia is still trading in the zone and yet to show any sign of strong breakout
Market psychological traits
1. Vaccine is here - Airlines will restart
2. buy low as economy will recover soon
3. Airasia will be back to RM3
Airasia will surely do a pullback when the market digest this news
1. vaccine effectiveness
2. Airasia has still pending debts from customer, they have yet to refund customer on the flight cancellation.
3. Airasia profit will be use to sustain their losses from 2020
Psychological resistance : RM1