On 26 Sept 2013 and 17 October 2013 i have published two analysis reports on Airasia. I strongly suggested to buy in. Since then it has increased more than 12.5%.

The question now is can we buy at the current price or should we hold/sell for existing traders?

From my technical analysis , i notice Airasia has broken the uptrend tunnel. Thus , it will be very bullish. And it seem like has broken the 61.8% Fibonacci line too. As a result, Airasia price should be and will be heading to 50% Fibonacci line very soon.

However, both RSI and Stochastic has shown overbought signal. Thus , it may retreat a little bit before heading up. Thus, i would suggest to buy on any correction.

First  Target  Price : RM3.00

Second Target Price : RM3.120

i wrote an analysis report on Airasia on 26 September 2013 and i strongly suggested a buy recommendation at RM2.560 at the time of the article published. It has since up near 10% as of today at RM2.810.

When i am writing this post , 10:40 am , the price is at RM2.810 and this is actually a breakout of the up trend tunnel. As a result, if the price manage to hold at or above this price by end of today, there will be a strong buy call again on Airasia and the near term target price should be RM3.00.

* This is solely based on Technical Analysis , no sentiment news is taken into consideration.

I notice Oldtown is on a down trend for mid-term. I would not suggest to buy Oldtown for this moment until a breakout from this down trend tunnel happens which is when the price stand above 2.680.

Oldtown's PE is above 20 which is relatively high for me. You may Hold for this stock if you are a long term investor as Oldtown is expanding their business oversea aggressively.