Saturday, June 26, 2010

AirAsia Updates

Share price for AirAsia is now at a crossroad.

The MACD indicator is still bullish with the indictor above its signal line. However a worrying sign is a weakening MACD histogram. This shows that the upward move is losing momentum. And from the price chart, we can see that the chart is now looking to form a lower low. RSI is at neutral level. Stochastic indicator is showing weakness in the short term.

The price action is showing weakness as well. The stock price could not hold above the downtrend line and is now about the test the support line.

Critical support is at RM1.25 level. The resistance level is at RM1.35.

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