KUALA LUMPUR (Jan 26): Public IB Research said AirAsia X Bhd’s (AAX) share price hovered in a sideway channel for the past five months. In a technicals note today, the research house said that currently, it is poised for breakout from descending triangle. It said both bullish relative strength index and MACD indicators signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term to lift price higher to the next resistance levels of 43.5 sen and 46.5 sen.“However, failure to hold at support level of 37.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.

Source: The Edge Markets January 26, 2017 00:41 UTC