Is Air Asia Ready to take off ..

Air Asia has been in downtrend since August after Malindo is competing with the Malaysia Domestic Flights by next year.

Indicators
1 ) Trendline -  Sideway trend between 2.8 and 3.19 
2)  Support/Resistance - Formed lower low  ( Bearish )
3) MACD - 4r1g (Bullish )
4) RSI - Broke above 30%  (Bullish )
5) STO -Bullish Crossover (Bullish )  If break above 20% will indicate more bullish
6) Ichimoku - a) Below the support cloud . If break above it will indicate bullish (Bearish)
                       b) Conversion line below the base line  (Bearish) 
                       c) Price below the baseline (Bearish)
7) Candlestick -  Bullish Engulfing.(Bullish )

Conclusion:
Bearish- 



Counter Trend Style 

Entry Price at  3.02 ( Closed at or above it)
Stop Loss at 2.96
Take Profit at  3.08 
Risk to Reward Ration  (RRR) =1(Average)

Entry Price at  3.02 ( Closed at or above it)
Stop Loss at 2.96
Take Profit at  3.17
Risk to Reward Ration ( RRR) =2.5  (Slightly Rewarding)


Entry Price at  3.02 ( Closed at or above it)
Stop Loss at 2.96
Take Profit at  3.27
Risk to Reward Ration ( RRR) =4.17 (Rewarding)

Resistance - 3.01 / 3.04 (20d Ma) / 3.1 /  3.19 / 3.3  / 3.43

Support      -  2.97 / 2.94 / 2.8