China Eastern Airlines Corp Ltd Stock Forecast
Evaluation of China Eastern Airlines Corp Ltd stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The China Eastern Airlines Corp Ltd stock price fell by -1.02% on the last day (Tuesday, 25th Jun 2024) from $3.94 to $3.90. During the last trading day the stock fluctuated 2.07% from a day low at $3.87 to a day high of $3.95. The price has been going up and down for this period, and there has been a -1.52% loss 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 -7 million shares and in total, 40 million shares were bought and sold for approximately $155.74 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 13.78% during the next 3 months and, with a 90% probability hold a price between $4.34 and $4.84 at the end of this 3-month period.
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600115.SS Signals & Forecast
There are few to no technical positive signals at the moment. The China Eastern Airlines Corp Ltd 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 $3.95 and $3.93. 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 -3.70%. 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 Eastern Airlines Corp Ltd stock
China Eastern Airlines Corp Ltd finds support from accumulated volume at $3.84 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 $0.0800 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600115.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect China Eastern Airlines Corporation Limited to open at $3.91, and during the day (based on 14 day Average True Range), to move between $3.82 and $3.98, which gives a possible trading interval of +/-$0.0758 (+/-1.94%) 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 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.94 (1.03%) than the support at $3.84 (1.54%), 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 Eastern Airlines Corporation Limited stock A Buy?
The China Eastern Airlines Corp Ltd stock holds several negative signals and despite the positive trend, we believe China Eastern Airlines Corp Ltd 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: -4.986 Sell Candidate Downgraded
Predicted Opening Price for China Eastern Airlines Corporation Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $3.91 ( 0.171%) | $3.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600115.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.99 | 2.22% |
| R2 | 3.96 | 1.44% |
| R1 | 3.94 | 0.95% |
| Price | 3.90 | |
| S1 | 3.88 | -0.613% |
| S2 | 3.86 | -1.10% |
| S3 | 3.83 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.96 | 1.54% |
| R2 | 3.95 | 1.28% |
| R1 | 3.94 | 1.03% |
| Price | 3.90 | |
| S1 | 3.84 | -1.54% |
| S2 | 3.82 | -2.05% |
| S3 | 3.78 | -3.08% |
600115 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 06, 2020 | Aug 06, 2020 | Aug 06, 2020 | $0.0500 | 1.10% |
| 2 | Jul 24, 2018 | Jul 24, 2018 | Jul 24, 2018 | $0.0510 | 0.85% |
| 3 | Aug 10, 2017 | Aug 10, 2017 | Aug 10, 2017 | $0.0490 | 0.724% |
| 4 | Dec 07, 2016 | Dec 07, 2016 | Dec 07, 2016 | $0.0510 | 0.770% |
| 5 | Jul 29, 2005 | Jul 29, 2005 | Jul 29, 2005 | $0.0200 | 1.12% |
FAQ
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