Air China Limited Stock Forecast
Air China Limited stock price down 1.27% on Wednesday
(Updated on May 08, 2024)
The Air China Limited stock price fell by -1.27% on the last day (Wednesday, 8th May 2024) from HK$3.94 to HK$3.89. During the last trading day the stock fluctuated 2.85% from a day low at HK$3.86 to a day high of HK$3.97. The price has been going up and down for this period, and there has been a 3.46% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 19 million shares were bought and sold for approximately HK$73.19 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.90% during the next 3 months and, with a 90% probability hold a price between HK$3.12 and HK$3.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0753.HK Signals & Forecast
The Air China Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$3.97. On a fall, the stock will find some support from the long-term average at approximately HK$3.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -6.04%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Air China Limited stock
Air China Limited finds support from accumulated volume at HK$3.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.110 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 3.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0753.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Air China Limited to open at HK$3.91, and during the day (based on 14 day Average True Range), to move between HK$3.73 and HK$4.05, which gives a possible trading interval of +/-HK$0.155 (+/-3.99%) up or down from last closing price. If Air China Limited takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$3.86 (0.77%) than the resistance at HK$3.94 (1.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Air China Limited stock A Buy?
Air China Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.922 Sell Candidate Unchanged
Predicted Opening Price for Air China Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| HK$3.91 ( 0.428%) | HK$3.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0753.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.02 | 3.26 % | |
| R2 | 3.97 | 2.18 % | ||
| R1 | 3.95 | 1.51 % | ||
| Current price: | 3.89 | |||
| Support | S1 | 3.86 | -0.652 % | |
| S2 | 3.84 | -1.32 % | ||
| S3 | 3.80 | -2.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 10.28 % | |
| R2 | 3.97 | 2.06 % | ||
| R1 | 3.94 | 1.29 % | ||
| Current price | 3.89 | |||
| Support | S1 | 3.86 | -0.771% | |
| S2 | 3.76 | -3.34% | ||
| S3 | 3.73 | -4.11% |
0753 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | HK$0.0444 | 0.89% |
| 2 | May 28, 2020 | May 28, 2020 | May 28, 2020 | HK$0.0485 | 1.03% |
| 3 | Jun 03, 2019 | Jun 03, 2019 | Jun 03, 2019 | HK$0.118 | 1.65% |
| 4 | May 29, 2018 | May 29, 2018 | May 29, 2018 | HK$0.142 | 1.56% |
| 5 | May 31, 2017 | May 31, 2017 | May 31, 2017 | HK$0.108 | 1.45% |
FAQ
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