China Southern Airlines Company Limited Stock Forecast
China Southern Airlines Company Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
The China Southern Airlines Company Limited stock price fell by -0.342% on the last day (Thursday, 20th Jun 2024) from $5.84 to $5.82. During the last trading day the stock fluctuated 2.77% from a day low at $5.77 to a day high of $5.93. The price has fallen in 6 of the last 10 days and is down by -1.85% for this period. Volume has increased on the last day by 8 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 44 million shares were bought and sold for approximately $258.56 million.
The stock lies in the middle of a weak 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 6.30% during the next 3 months and, with a 90% probability hold a price between $6.06 and $6.65 at the end of this 3-month period.
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600029.SS Signals & Forecast
The China Southern Airlines Company 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 $5.84. On a fall, the stock will find some support from the long-term average at approximately $5.82. 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. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.692%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Southern Airlines Company Limited stock
China Southern Airlines Company Limited finds support from accumulated volume at $5.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.160 between high and low, or 2.77%. For the last week the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $5.52 (-5.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (600029.SS) 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 $5.84, and during the day (based on 14 day Average True Range), to move between $5.69 and $5.95, which gives a possible trading interval of +/-$0.127 (+/-2.18%) 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 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.85 (0.52%) than the support at $5.66 (2.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is China Southern Airlines Company Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Southern Airlines Company Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.147 Buy Candidate Upgraded
Predicted Opening Price for China Southern Airlines Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $5.84 ( 0.344%) | $5.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600029.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.00 | 3.09% |
| R2 | 5.94 | 2.04% |
| R1 | 5.90 | 1.39% |
| Price | 5.82 | |
| S1 | 5.78 | -0.707% |
| S2 | 5.74 | -1.36% |
| S3 | 5.68 | -2.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.97 | 2.58% |
| R2 | 5.92 | 1.72% |
| R1 | 5.85 | 0.515% |
| Price | 5.82 | |
| S1 | 5.66 | -2.75% |
| S2 | 5.64 | -3.09% |
| S3 | 5.59 | -3.95% |
600029 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 24, 2019 | Jul 24, 2019 | Jul 24, 2019 | $0.0500 | 0.675% |
| 2 | Jul 12, 2018 | Jul 12, 2018 | Jul 12, 2018 | $0.100 | 1.30% |
| 3 | Jul 26, 2017 | Jul 26, 2017 | Jul 26, 2017 | $0.100 | 1.25% |
| 4 | Jul 01, 2016 | Jul 01, 2016 | Jul 01, 2016 | $0.0800 | 1.15% |
| 5 | Aug 06, 2015 | Aug 06, 2015 | Aug 06, 2015 | $0.0400 | 0.338% |
FAQ
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