Technical Analysis Of Air Asia X Berhad

After registering better operating performance, the stock of Air Asia X exploded higher. Is this going to be a one day wonder or the start of a sustained uptrend that will send the stock higher?

AirAsia X registers better operating performance in Q4 (The Star News )

An improvement in quarterly results can often be a good sign of a turnaround. I will leave the fundamental analysis to the experts of FA but I will analyze Air Asia X's share price from a technical point of view.

So I hope it will complement your own analysis.

Last year, when someone asked me to look at Air Asia X, I said that it was better to put their money in the mother share Air Asia compared to Air Asia X. The reason is the long term charts of Air Asia is better than its little kid.

Air Asia has made a new high but Air Asia X still has a long way to go to the former highs. I will do an analysis on Air Asia when I'm free.

The chart above is the daily chart of Air Asia X.

As you can see, the stock gap up above a daily ascending triangle pattern and shot up nicely to hit the initial target within one trading day. The heavy volume is something encouraging for the stock.

Whether it can continue to go higher will depend on whether it can stay above the resistance line I have drawn. If it can then the next target area for it is the 0.54 area which is the old highs.

The weekly chart above shows how Air Asia X is just meandering around. I don't want to comment on the long term prospects of this stock yet. Let's see if it can go up to 0.50 area first.

When and if it reaches there then we can see if it can break higher.

  • If you like this article, consider starting the Stock Market Course. It is free and jam packed with great information for newbies.
  • Want to have updates on the financial markets? Join my Telegram Channel. Dstockmarket.com Channel.
  • Help support this page and press the Facebook Like button below. Thanks!

Recent Articles

  1. Dow Finally Makes A Bullish Cross, More Bulls To Come

    May 21, 18 08:12 AM

    After a very long time trading below the powerful 20 MA and 50 MA, the Dow Jones is now back in bull mode trading above the 20 MA and 50 MA. What's more is it is experiencing a bullish cross.

    Read More

  2. Technical Analysis Lessons From FLR

    Apr 27, 18 05:31 AM

    In this article we will examine why FLR went from a downtrend to the start of a new uptrend. We will also look at some chart patterns and how it affects the stock.

    Read More

  3. Technical Analysis Lessons From AMZN

    Apr 26, 18 06:19 AM

    If you are interested to know why AMZN went up so much, this lesson will show you why AMZN was able double its stock price.

    Read More

  4. Technical Analysis Of Maybank

    Apr 26, 18 05:04 AM

    The surge in foreign funds investing in finance stocks has lifted many Malaysian bank stocks higher. Maybank is now making a nice uptrend in the daily chart. Will it be able to overcome the old highs…

    Read More

  5. Technical Analysis Of Top Glove

    Apr 26, 18 04:46 AM

    A technical analysis view on Top Glove analyzing the trend and price action.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.