Breaking its overall trend resistance since covid last year air nz has been bought out its long positions between 1,30-1,55 zone and is currently entering a bullish channel for 2022.
ITs overall support has now increased and with covid pandemic almost being finished with vacc rates close to 90% we will see the tourisim business looking to get back in 2022,
Currently having some form of resistance around the RM0.98 region, having able to surpass this, I believe MYX:AIRASIA has much room to move higher.
Targeting an initial area of RM1.50, then RM2.12 and further RM2.63 (lesser probability) IF the initial RM0.98 resistance area is broken.
These are just my views and in no way represent any buy/sell call or...
Trading is an "on going" "Journey" of "Rediscovery" NOT a "Destination" of "Reinvention".. AirAsia possible forming a triple zigzag in wave 4 (yellow) where price could reach at around 1.400 1)weekly 200 EMA 2)Upper Parallel Channel Line of Triple ZigZag 3)Supply Zone before resuming its down trend..
Theme: Airline/ Recovery
Fresh signal the stock rejects to fall below new support at 1.15, maintaining this momentum will continue to allow upside to kick in until Fibo Ext 100% area.
Breakout on Trend
EP: 0.99- 1.04
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision.
JUST AN IDEA :
as i am looking this, i predict that price for airasia will be bullish since have create a new Higher High for daily chart.
Disclamer : it's not a buy call idea. I save here for myself learning on chart analysis.
here we already see a reversal.
and already create a QM best structure for buy..
and we saw a FAKE OUT that possibility for the price to break thru the price..
The yellow box is the best area zone for a price do a rejection..
there are a few confirmations that made me confident with buy setup
1. The structure has shown a reversal in minor
So AirAsia has a Strong psychological resistance at RM1 as written in previous Analysis
There is no need to have 10 indicators showing you when to buy and when to sell. With the use of Price Action, We know that this week AA Sellers is in the field and controlling the runway !
A strong bearish candle shows that AA will proceed to slide lower till a...
My previous entry was at 0.666 & second at 0.595, has TP 70% of it at the price of 0.880.
Now I am looking for another re-entry at 0.820-0.855 & at the possible price 0.755. But, if I'm planning to hold then I probably will take the TP at Price Zone 1.310-1.435 instead of 1.070 or 1.150.
Disclaimer: If you choose to follow this trading idea you do so at your...