A Breakout Signal from significant price movement to the highest price level. The price closed above MA20 with high volume confirms the price movement. MACD and OBV charts confirmed a divergence signal. Using Bollinger Band (BB), look out for a possibility of a fishtail pattern. With the combination of MACD, OBV, and BB charts, high probability of a long trade...
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...
First resistance is at 0.940 and first support is at 0.805 . If we using Fibo Retracement from support 2 to the current highest resistance which at 0.960, we can see that the current price is almost at 50%.
If the current price can break that 50%, price could possible reach at our first resistance.
Covid conditions in Asia countries are getting control while increasing in vaccination progress.
Big player in airlines industry like AirAsia is going to rage back their performance once majority of the population get vaccinated.
I see bulls coming in RSI creating higher lows (maybe divergence) and a big gap upside in the chart!
Let’s fly!!!
REVERSAL CUP AND HANDLE PATTERN
Most likely, the price will go lower.
Malaysia covid-19 case getting worse, only 80% vaccination, and herd immunity can boost this stocks, but the effectiveness of vaccine possibly impossible for Delta and Lambda Covid Variant !
AND ...
Right Issue is RM0.75, ex date not yet confirm, possibly 4th quarter of 2021.
Bursa...
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..
I'm a beginner trader trying to gain experience in reading charts - This is what I think is the first head and shoulders pattern I have seen on a chart here on Air Asia. From what I know this is a bearish signal. However there has not been any significant long bull run before hand??
I welcome any counter arguements and explanations to why I'm wrong!
AirAsia Group Bhd. engages in the provision of air transportation services. It operates through the following geographical segments: Airline: Malaysia, Philippines, Thailand, Indonesia, India, and Japan; and Non-Airline. The company was founded by Abdel Aziz bin Abu Bakar, Anthony Francis Fernandes, Conor John McCarthy, and Kamarudin bin Meranum in 1993 and is headquartered in Kuala Lumpur, Malaysia.
MYX
