Home Asia AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel

AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel

86
0

AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel Teleport, the rebranded cargo and logistics platform of Airasia Group Bhd has co-invested equally with Gobi Partners, a venture capital firm of around RM43.8mil (US$10.6mil) in EasyParcel, a regional e-commerce and parcel delivery player, to scale online parcel delivery services. 

Teleport is a wholly owned subsidiary of AirAsia Group, formerly known as RedCargo Logistics. 

Low-cost carrier AirAsia Group Bhd group executive chief officer Tan Sri Tony Fernandes said the group is unlocking the potential it’s logistics business with the help of EasyParcel, which will use the Series B funding to grow its online parcel delivery services. 

“I have always believed AirAsia’s logistics business has a huge potential to be part of the social and e-commerce system. 

“This milestone reflects that Airasia is a truly digital company,” he added. 

Meanwhile, Teleport chief executive officer Pete Chareonwongsak said the partnership would transform the logistics and e-commerce platform especially for small and medium enterprises (SMEs) to “move items from A to B.”

“This investment will allows us to accelerate the accessibility of logistics for SMEs, while at the same time encourage more collaboration with the regions logistics startup community,” he added. 

Teleport’s logistics and infrastructure capabilities include more than 100 cities, 10,000 Airasia flights per week and more than 1mil tonnes of cargo capacity.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 2.81.

The projected upper bound is: 3.08.

The projected lower bound is: 2.75.

The projected closing price is: 2.91.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 17 white candles and 30 black candles for a net of 13 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 29.4118. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.91. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 13. This is not a topping or bottoming area. The last signal was a sell 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.

Rex Takasugi – TD Profile

AIRASIA GROUP closed down -0.010 at 2.910. Volume was 27% above average (neutral) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
2.930 2.940 2.890 2.910 11,166,200

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 2.94 2.75 2.71
Volatility: 23 38 44
Volume: 9,968,589 10,173,216 9,353,641

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AIRASIA GROUP is currently 7.2% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of AIRA.KL at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AIRA.KL and have had this outlook for the last 12 periods.

Previous articlePresident Trump, “Progress” Made with Iran to Defuse Crisis
Next articleTop 10 Free Things To Do in New York City
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.