AIRASIA (5099) - Technical Analysis

Technical Analysis

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1) After 113 trading days consolidation phrase, AirAsia shares price breakout resistance level, RM1.667 and it reduced sharply and significantly on Jan 17, 2020

2) Then AirAsia shares price formed a descending triangle and have a breakout on Feb 27, 2020. Thus, we able to calculate the first level of downward satisfaction.

3) The first level of downward satisfaction:

-RM1.660 - RM1.120 = 0.54

-RM 1.120 - 0.54 = RM 0.58

4) AirAsia shares price meet the first level of drop satisfaction, huge trading transaction volume appear on Mar 20, 2020, and we noticed the first reversal chart pattern, bullish concealing baby swallow.

5) There is a fail breakout (RM0.710) on May 29, 2020 cum with an overturn on Jun 1, 2020, and shares price able to sustain above the support level RM0.710.

6) AirAsia shares price breakout resistance level RM0.869 on Jun 4, 2020, and closed at RM0.860. Thus, we able to calculate the first level of upward satisfaction.

7) The first level of upward satisfaction:

-RM0.869 - RM0.66 = 0.209

-RM0.869 + 0.209 = RM1.078

8) After AirAsia shares price meets the first level of upward satisfaction, the shares price continues to drop further which formed a bearish concealing baby swallow on Jun 15, 2020. It is a red flag for speculation investors.

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