China Southern Airlines Company Limited Stock Forecast
China Southern Airlines Company Limited stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
The China Southern Airlines Company Limited stock price fell by -1.60% on the last day (Thursday, 20th Jun 2024) from HK$3.13 to HK$3.08. During the last trading day the stock fluctuated 2.27% from a day low at HK$3.08 to a day high of HK$3.15. The price has fallen in 6 of the last 10 days and is down by -5.81% 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, 7 million shares were bought and sold for approximately HK$21.12 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.02 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.11% during the next 3 months and, with a 90% probability hold a price between HK$3.63 and HK$4.34 at the end of this 3-month period.
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1055.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.326%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$3.11 and HK$3.13. A break-up above any of these levels will issue buy signals. 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 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$0.0700 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 2.21%.
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 Friday 21st
For the upcoming trading day on Friday, 21st we expect China Southern Airlines Company Limited to open at HK$3.10, and during the day (based on 14 day Average True Range), to move between HK$2.97 and HK$3.19, which gives a possible trading interval of +/-HK$0.108 (+/-3.50%) 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 7.00% 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 (0.65%) than the resistance at HK$3.23 (4.87%), 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: -1.613 Sell Candidate Downgraded
Predicted Opening Price for China Southern Airlines Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$3.10 ( 0.758%) | HK$3.08 |
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 | 3.17 | 3.03% |
| R2 | 3.15 | 2.16% |
| R1 | 3.13 | 1.63% |
| Price | 3.08 | |
| S1 | 3.08 | -0.111% |
| S2 | 3.06 | -0.647% |
| S3 | 3.03 | -1.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.32 | 7.79% |
| R2 | 3.27 | 6.17% |
| R1 | 3.23 | 4.87% |
| Price | 3.08 | |
| S1 | 3.06 | -0.649% |
| S2 | 2.84 | -7.79% |
| S3 | 2.57 | -16.56% |
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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