Hainan Airlines Holding Co., Ltd. Stock Forecast
Is Hainan Airlines Holding Co., Ltd. stock still a buy after falling -6.42% on Friday?
(Updated on Jun 28, 2024)
The Hainan Airlines Holding Co., Ltd. stock price fell by -6.42% on the last day (Friday, 28th Jun 2024) from $1.09 to $1.02. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.00% from a day low at $1.00 to a day high of $1.08. The price has fallen in 7 of the last 10 days and is down by -19.05% for this period. Volume has increased on the last day by 364 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, 589 million shares were bought and sold for approximately $600.66 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.16) are considered to be a "second chance" to get out. According to the fan-theory $1.01 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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600221.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Hainan Airlines Holding Co., Ltd. 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 $1.14 and $1.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -20.93%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hainan Airlines Holding Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0800 between high and low, or 8.00%. For the last week, the stock has had daily average volatility of 6.21%.
Hainan Airlines Holding Co., Ltd. is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600221.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Hainan Airlines Holding Co., Ltd. to open at $1.03, and during the day (based on 14 day Average True Range), to move between $0.98 and $1.06, which gives a possible trading interval of +/-$0.0406 (+/-3.98%) up or down from last closing price. If Hainan Airlines Holding Co., Ltd. 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.
With no support below and resistance from accumulated volume @ $1.11, some $0.0900 (8.82%) from the current price of $1.02, our system finds the risk reward not very attractive.
Is Hainan Airlines Holding Co., Ltd. stock A Buy?
Hainan Airlines Holding Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.322 Strong Sell Candidate Unchanged
Predicted Opening Price for Hainan Airlines Holding Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $1.03 ( 1.31%) | $1.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600221.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.11 | 9.15% |
| R2 | 1.08 | 6.15% |
| R1 | 1.06 | 4.30% |
| Price | 1.02 | |
| S1 | 1.00 | -1.69% |
| S2 | 0.98 | -3.54% |
| S3 | 0.95 | -6.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.26 | 23.53% |
| R2 | 1.17 | 14.71% |
| R1 | 1.11 | 8.82% |
| Price | 1.02 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
600221 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2018 | May 31, 2018 | May 31, 2018 | $0.0180 | 0.554% |
| 2 | Jun 07, 2017 | Jun 07, 2017 | Jun 07, 2017 | $0.0514 | 1.60% |
| 3 | Jun 09, 2015 | Jun 09, 2015 | Jun 09, 2015 | $0.0638 | 0.99% |
| 4 | Jun 07, 2013 | Jun 07, 2013 | Jun 07, 2013 | $0.0500 | 2.07% |
| 5 | Jun 12, 2012 | Jun 12, 2012 | Jun 12, 2012 | $0.0600 | 2.45% |
FAQ
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