AAX (5238) - Stock With Momentum: AirAsia X

AirAsia X Bhd (-ve)Red Flag

SHARES in AirAsia X Bhd (fundamental: 0.2/3, valuation: 0/3) triggered our momentum algorithm for the first time this month, as they rose 5.5 sen or 13.6% to close at 46 sen, after 233.63 million shares were traded.

In comparison, its 200-day average volume is around 30.46 million shares.

The counter, which was the second most actively traded on the local bourse yesterday, was however highlighted as a “red flag” Stock with Momentum by our proprietary algorithm, suggesting that investors be extra careful when trading in its shares.

In the first quarter ended March 31, 2016 (1QFY16), AirAsia X turned around with a net profit of RM179.49 million, from RM125.92 million a year ago, on improved revenue and better management of operating expenses.

Revenue rose 25.18% to RM970.67 million, from RM775.37 million.

 AirAsia X is expected to announce its 2QFY16 results soon. The stock currently trades at 2.3 times its book value.

AAX (5238) - Stock With Momentum: AirAsia X