Earnings & Revenue Of AirArabia Announcement
AirArabia is expected to announce their financials coming week and most of the participants in the Dubai Stock Market are expecting it to be positive and above expectations. For now we can see AirArabia have been some significant moves it have jumped from 1.40 – 2.15 in a very short span of time.
Financial results are expected by coming week, positive result will push the price till 2.35 in very short time.
Lets Talk Technical
Technically AirArabia chart is very bullish for short & long term. Lets dissect the chart in detail.
Airarabia stock price making new highs and lowers are shifting higher too the chart is very healthy. We saw a bullish pennant formation between 11th April – 19th April. This is a small pause that market makes after a big move to the upside. A fresh entry can be taken once we see the breakout to the upside of this bullish chart pattern. As of today on 29-04-2022 the closing price o Airarabia is 2.15 we can see 8 day moving average is holding the price and providing a dynamic support. Is now ready for a new “J hook” pattern I think we will soon see 2.35 as our first target which is a major resistance also soon it will fill up the gap area that it created previously.
Airarabia stock price dropped from 4.20 on 17/07/2011 and that gap have not yet been filled. This gap is still haunting and it will be filled up soon in coming months. So if you have a good holding power this stock can give you healthy returns. My next target for booking profit is between 2.33 – 2.40 lets wait for the news to hit the market and see the reaction I would like to add more quantity if it dips from here.
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Over all AirArabia is very bullish, Recommended !
Please do your own research before investing this article is for educational purpose.
All The Best!!