Air New Zealand Stock Forecast
Red day on Tuesday for Air New Zealand
(Updated on Apr 23, 2024)
The Air New Zealand stock price fell by -1.75% on the last day (Tuesday, 23rd Apr 2024) from $0.570 to $0.560. During the last trading day the stock fluctuated 2.70% from a day low at $0.555 to a day high of $0.570. The price has fallen in 5 of the last 10 days and is down by -7.44% 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 -774 thousand shares and in total, 1 million shares were bought and sold for approximately $689.09 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.36% during the next 3 months and, with a 90% probability hold a price between $0.502 and $0.528 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AIR.NZ Signals & Forecast
There are few to no technical positive signals at the moment. The Air New Zealand 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 $0.581 and $0.597. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -8.94%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Air New Zealand 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.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0150 between high and low, or 2.70%. For the last week the stock has had daily average volatility of 3.37%.
Air New Zealand is oversold on RSI14 (14). 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 (AIR.NZ) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Air New Zealand Limited to open at $0.562, and during the day (based on 14 day Average True Range), to move between $0.546 and $0.574, which gives a possible trading interval of +/-$0.0138 (+/-2.46%) up or down from last closing price. If Air New Zealand Limited takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.595, some $0.0350 (6.25%) from the current price of $0.560, our system finds the risk reward not very attractive.
Is Air New Zealand Limited stock A Buy?
Air New Zealand holds several negative signals and is within a 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: -4.869 Sell Candidate Unchanged
Predicted Opening Price for Air New Zealand Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.562 ( 0.298%) | $0.560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIR.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.577 | 2.98 % | |
| R2 | 0.571 | 1.95 % | ||
| R1 | 0.567 | 1.32 % | ||
| Current price: | 0.560 | |||
| Support | S1 | 0.556 | -0.726 % | |
| S2 | 0.552 | -1.36 % | ||
| S3 | 0.547 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.605 | 8.04 % | |
| R2 | 0.600 | 7.14 % | ||
| R1 | 0.595 | 6.25 % | ||
| Current price | 0.560 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
AIR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 21, 2024 | $0.0200 | 3.33% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | $0.0600 | 7.74% |
| 3 | Mar 12, 2020 | Mar 12, 2020 | Mar 12, 2020 | $0.110 | 10.19% |
| 4 | Sep 05, 2019 | Sep 05, 2019 | Sep 05, 2019 | $0.0674 | 3.92% |
| 5 | Mar 14, 2019 | Mar 14, 2019 | Mar 14, 2019 | $0.0674 | 4.68% |
FAQ
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