Air New Zealand Stock Forecast
Air New Zealand stock price ended at $0.535 on Friday, after losing 0.93%.
(Updated on May 03, 2024)
The Air New Zealand stock price fell by -0.93% on the last day (Friday, 3rd May 2024) from $0.540 to $0.535. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.87% from a day low at $0.535 to a day high of $0.545. The price has fallen in 7 of the last 10 days and is down by -8.55% 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 -2 million shares and in total, 890 thousand shares were bought and sold for approximately $476.12 thousand.
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 ($0.536) are considered to be a "second chance" to get out. According to the fan-theory $0.480 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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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 $0.546 and $0.587. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -12.30%. 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.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0100 between high and low, or 1.87%. For the last week the stock has had daily average volatility of 2.04%.
Air New Zealand is oversold on RSI14 (6). 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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Air New Zealand Limited to open at $0.538, and during the day (based on 14 day Average True Range), to move between $0.522 and $0.548, which gives a possible trading interval of +/-$0.0129 (+/-2.41%) 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 4.82% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.595, some $0.0600 (11.21%) from the current price of $0.535, 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 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: -3.565 Sell Candidate Unchanged
Predicted Opening Price for Air New Zealand Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.538 ( 0.623%) | $0.535 |
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 | 0.548 | 2.49 % | |
| R2 | 0.545 | 1.78 % | ||
| R1 | 0.542 | 1.34 % | ||
| Current price: | 0.535 | |||
| Support | S1 | 0.535 | -0.0910 % | |
| S2 | 0.532 | -0.532 % | ||
| S3 | 0.528 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.605 | 13.08 % | |
| R2 | 0.600 | 12.15 % | ||
| R1 | 0.595 | 11.21 % | ||
| Current price | 0.535 | |||
| 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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