Eye on stock; AirAsia

AFTER setting a new record of RM4.20 on Aug 4, 2011, budget airline AirAsia Bhd shares slipped into correction mode owing to an apparent profit-taking activity.

It was a typical process initially, but prices deteriorated into a “full-blown” bearish phase later, hit by a combination of factors, such as bad publicity and the recent global markets rout, despite the fact that this counter stand to benefit from the lower crude oil prices.