China Eastern Airlines Corp Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
China Eastern Airlines Corp Ltd stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The China Eastern Airlines Corp Ltd stock price gained 4.37% on the last trading day (Friday, 17th May 2024), rising from HK$2.06 to HK$2.15. During the last trading day the stock fluctuated 4.35% from a day low at HK$2.07 to a day high of HK$2.16. The price has been going up and down for this period, and there has been a 3.37% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately HK$36.05 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. HK$2.10 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach HK$2.36 sometime during the next 3 months.
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0670.HK Signals & Forecast
Mostly positive signals in the chart today. The China Eastern Airlines Corp Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$2.07 and HK$1.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 9.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for China Eastern Airlines Corp Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$2.03 and HK$2.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Eastern Airlines Corp Ltd finds support just below today's level at HK$2.03. If this is broken, then the next support from accumulated volume will be at HK$2.02 and HK$1.90.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0900 between high and low, or 4.35%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: HK$2.07 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (0670.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect China Eastern Airlines Corporation Limited to open at HK$2.13, and during the day (based on 14 day Average True Range), to move between HK$2.08 and HK$2.22, which gives a possible trading interval of +/-HK$0.0717 (+/-3.34%) up or down from last closing price. If China Eastern Airlines Corporation Limited takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$2.03, some HK$0.120 (5.58%) from the current price of HK$2.15, our system finds the risk reward attractive.
Is China Eastern Airlines Corporation Limited stock A Buy?
China Eastern Airlines Corp Ltd holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.202 Strong Buy Candidate Upgraded
Predicted Opening Price for China Eastern Airlines Corporation Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$2.13 ( 1.09%) | HK$2.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0670.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.22 | 3.10 % | |
| R2 | 2.18 | 1.50 % | ||
| R1 | 2.16 | 0.514 % | ||
| Current price: | 2.15 | |||
| Support | S1 | 2.09 | -2.68 % | |
| S2 | 2.07 | -3.67 % | ||
| S3 | 2.04 | -5.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.15 | |||
| Support | S1 | 2.03 | -5.58% | |
| S2 | 2.02 | -6.05% | ||
| S3 | 1.90 | -11.63% |
0670 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | HK$0.0550 | 1.87% |
| 2 | Jun 25, 2018 | Jun 25, 2018 | Jun 25, 2018 | HK$0.0630 | 1.11% |
| 3 | Jul 03, 2017 | Jul 03, 2017 | Jul 03, 2017 | HK$0.0560 | 1.17% |
| 4 | Oct 31, 2016 | Oct 31, 2016 | Oct 31, 2016 | HK$0.0585 | 1.68% |
| 5 | Jul 27, 2005 | Jul 27, 2005 | Jul 27, 2005 | HK$0.0200 | 1.55% |
FAQ
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