Red and hot, as hot as its stock price 🙂 AirAsia Bhd’s share price rose to its highest in more than 2½ years to RM1.75, its intraday high yesterday, on strong buying interest buoyed by a strong set of second-quarter results released on Wednesday.
Its share price had appreciated 25.36% so far this year, out-performing the stock market’s benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index, which gained 9.41% in the same period. Whoa!
It was also the sixth most actively-traded counter on Bursa Malaysia with a volume of 20 million shares.
The carrier announced that it made a net profit of RM198.9mil for the three months to June 30, a 43% jumped from RM139.2mil in the previous corresponding period, on turnover of RM940.6mil.
ps: Then what to do? The price is already high, it will go down to retrace.. maybe good to buy at retracement.