The price of AirAsia started to consolidate and correction since the early Aug this year. It was very quiet for a while after the Q2 financial result. Since then the stock price form a down trend channel. On last Thusday the price almost breaks out of the upper trend line. The strength was follow through on Friday and it broke out of the upper trend line however due a bad market sentiment, once again the price was retreated below the trend line.
The earning result was released after the market closed on Friday. The quarterly to quarterly EPS comparision was increased by 127% while the yearly to yearly comparision was increased by 255%. At the same time there was a news poped up that AirAsia plan to list in Thailand and Indonesia. Since AirAsia has a business in both countries, the IPO will help to promote the branding and the image of AirAsia. The outlook of AirAsia will be brighter in future and many analyst see this is a good move for AirAsia. Can the share price break out the downtrend channel is a next question.
IPO= Initial Public Offer
EPS= Earning per share
Please click the link to see the Technical View of AirAsia
Chart Pattern
