Hot Stock AirAsia active, up 2.44%

by **Cals** Wed 30 Sep 2015, 22:08

Hot Stock
AirAsia active, up 2.44%
By Surin Murugiah / theedgemarkets.com | September 30, 2015 : 10:41 AM MYT

KUALA LUMPUR (Sept 30): AirAsia Bhd ([You must be registered and logged in to see this image.] Valuation: 1.20, Fundamental: 0.20) rose 2.44% in active trade after AllianceDBS Research said the immediate support for AirAsia was at RM1.19.
At 10.15am, AirAsia rose 3 sen to RM1.26 with 18.03 million shares done.
In a note today, AllianceDBS Research said that AirAsia had on Sept 29 traded lower to RM1.20 before closing at RM1.23 (down 4 sen or 3.15%).
In its evening edition yesterday, the research house said AirAsia continued to trade above the 20-day and 50-day moving average lines in the last 11 days.
“Following the down close on Sept 29, the stock is likely to test a lower level again with an immediate support at RM1.19.
“A fall below RM1.19 should see a further price decline to the subsequent support at RM1.08. The hurdle is at RM1.42.
“A rise above RM1.42 would lift the stock to the next resistance at RM1.50,” it said.
AllianceDBS Research said stock volume traded on Sept 29 was 47.8 million shares compared to the three-month average volume of 44.1 million shares.
The research house said that indicators wise, the MACD was marginally above the nine-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.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)