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Wednesday, November 14, 2012

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 )





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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

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