KUALA LUMPUR (Jan 3): AllianceDBS Research said AirAsia Bhd (AirAsia) had on Jan 2 traded marginally lower to RM3.31 before closing off the day’s low at RM3.34 (down 1 sen or 0.29%).

In its evening edition yesterday, the research house said AirAsia continued to stay above the 20-day (blue) and 50-day (red) moving average lines.

“Given the way AirAsia carried itself in recent days, the stock is likely to move between RM3.28 and RM3.39 in the coming few days.

“A crossover of RM3.39 should see further price rise to the next overhead resistance zone, RM3.48 – RM3.51.

“However, a fall below RM3.28 would put pressure on the stock down to the subsequent support zone, RM3.14 – RM3.18,” it said.  

AllianceDBS Research said stock volume traded on Jan 2 was 2.60 million shares compared to the 3-month average volume of 6.89 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.