SN Lock
SHARE prices on Bursa Malaysia consolidated in response to the earthquake and tsunami in Japan yesterday. Decliners outpaced advancers by 352 to 308.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rebounded from its intra-day low of 1,480.79 to its intra-day high of 1,500.10 yesterday. It closed at 1,495.35 points, giving a day-on-day loss of 0.27 point, or 0.02 per cent.
AirAsia Bhd trended higher to close at RM2.54, giving it a day-on-day gain of 7 sen, or 2.83 per cent.
Chartwise, AirAsia's daily price trend fell from its recent high of RM3.04 on January 14, to its intra-day low of RM2.35 on February 24, posting a total loss of 69 sen.
Its daily fast MACD (moving average convergence divergence) continued to stay above its daily slow MACD yesterday. Both of its daily fast and slow MACDs stayed below their respective neutral reference lines.
AirAsia's daily price trend is likely to stage a follow-through technical rebound.
The subject expressed above is based on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
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Read more: AirAsia's follow-through rebound likely http://www.btimes.com.my/Current_News/BTIMES/articles/AirAisa14/Article/#ixzz1Gd2GotEo
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