Air China Limited Stock Forecast
Air China Limited stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Air China Limited stock price gained 1.67% on the last trading day (Wednesday, 26th Jun 2024), rising from $7.20 to $7.32. During the last trading day the stock fluctuated 2.52% from a day low at $7.15 to a day high of $7.33. The price has fallen in 7 of the last 10 days and is down by -2.53% for this period. Volume fell on the last day by -2 million shares and in total, 31 million shares were bought and sold for approximately $228.29 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $7.20 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Air China Limited stock with a 90% probability to be traded between $7.34 and $8.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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601111.SS Signals & Forecast
There are mixed signals in the stock today. The Air China Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.43. On a fall, the stock will find some support from the short-term average at $7.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.67%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should go up by 3.00% to $7.54 within 27 trading days since signal was issued (Thursday, August 01, 2024).
Support, Risk & Stop-loss for Air China Limited stock
Air China Limited finds support from accumulated volume at $7.30 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 $0.180 between high and low, or 2.52%. For the last week the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: $6.91 (-5.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (601111.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Air China Limited to open at $7.27, and during the day (based on 14 day Average True Range), to move between $7.18 and $7.46, which gives a possible trading interval of +/-$0.142 (+/-1.94%) up or down from last closing price. If Air China 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 support from accumulated volume at $7.30 (0.27%) than the resistance at $7.38 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Air China Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Air China Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.124 Buy Candidate Upgraded
Predicted Opening Price for Air China Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $7.27 ( 0.729%) | $7.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601111.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.45 | 1.73% |
| R2 | 7.38 | 0.791% |
| R1 | 7.34 | 0.211% |
| Price | 7.32 | |
| S1 | 7.20 | -1.67% |
| S2 | 7.16 | -2.25% |
| S3 | 7.09 | -3.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.41 | 1.23% |
| R2 | 7.39 | 0.96% |
| R1 | 7.38 | 0.82% |
| Price | 7.32 | |
| S1 | 7.30 | -0.273% |
| S2 | 7.20 | -1.64% |
| S3 | 7.09 | -3.14% |
601111 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | $0.0444 | 0.629% |
| 2 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | $0.103 | 1.13% |
| 3 | Jul 04, 2018 | Jul 04, 2018 | Jul 04, 2018 | $0.115 | 1.42% |
| 4 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | $0.108 | 1.13% |
| 5 | Jun 30, 2016 | Jun 30, 2016 | Jun 30, 2016 | $0.107 | 1.58% |
FAQ
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