China Southern Airlines Company Limited Stock Forecast
Evaluation of China Southern Airlines Company Limited stock downgraded after the last trading session.
(Updated on Jun 14, 2024)
The China Southern Airlines Company Limited stock price fell by -0.96% on the last day (Friday, 14th Jun 2024) from HK$3.12 to HK$3.09. During the last trading day the stock fluctuated 2.29% from a day low at HK$3.06 to a day high of HK$3.13. The price has fallen in 6 of the last 10 days and is down by -2.52% for this period. 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 -2 million shares and in total, 8 million shares were bought and sold for approximately HK$23.37 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.33% during the next 3 months and, with a 90% probability hold a price between HK$3.48 and HK$4.21 at the end of this 3-month period.
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1055.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Southern Airlines Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$3.19 and HK$3.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -9.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 China Southern Airlines Company Limited stock
China Southern Airlines Company Limited finds support from accumulated volume at HK$3.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0700 (2.29%) between high and low. For the last week, the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1055.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect China Southern Airlines Company Limited to open at HK$3.09, and during the day (based on 14 day Average True Range), to move between HK$2.97 and HK$3.21, which gives a possible trading interval of +/-HK$0.121 (+/-3.93%) up or down from last closing price. If China Southern Airlines Company Limited takes out the full calculated possible swing range there will be an estimated 7.86% 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$3.06 (0.97%) than the resistance at HK$3.23 (4.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Southern Airlines Company Limited stock A Buy?
The China Southern Airlines Company Limited stock holds several negative signals and despite the positive trend, we believe China Southern Airlines Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.149 Sell Candidate Downgraded
Predicted Opening Price for China Southern Airlines Company Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$3.09 ( 0.108%) | HK$3.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1055.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.16 | 2.37% |
| R2 | 3.14 | 1.51% |
| R1 | 3.12 | 0.97% |
| Price | 3.09 | |
| S1 | 3.07 | -0.757% |
| S2 | 3.05 | -1.29% |
| S3 | 3.02 | -2.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.32 | 7.44% |
| R2 | 3.27 | 5.83% |
| R1 | 3.23 | 4.53% |
| Price | 3.09 | |
| S1 | 3.06 | -0.97% |
| S2 | 2.84 | -8.09% |
| S3 | 2.57 | -16.83% |
1055 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | HK$0.0570 | 1.05% |
| 2 | Jun 20, 2018 | Jun 20, 2018 | Jun 20, 2018 | HK$0.122 | 1.51% |
| 3 | Jul 04, 2017 | Jul 04, 2017 | Jul 04, 2017 | HK$0.114 | 1.82% |
| 4 | Jun 10, 2016 | Jun 10, 2016 | Jun 10, 2016 | HK$0.0948 | 2.04% |
| 5 | Jul 14, 2015 | Jul 14, 2015 | Jul 14, 2015 | HK$0.0507 | 0.611% |
FAQ
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