China Southern Airlines Company Ltd (ADR) Forecast and Stock Analysis
Technical ZNH stock analysis for April 25, 2019.
|Shorts||1.29% ( 2019-03-29 )|
China Southern Airlines Company Ltd (ADR) fell by -2.53% in the last day from $43.46 to $42.36 and has now fallen 5 days in a row. The price has fallen in 6 of the last 10 days and is down by -13.09% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -2 287 shares and in total 24 212 shares bought and sold for approximately $1.03 million.
Close price at the end of the last trading day (Thursday, 25th Apr 2019) of the ZNH stock was $42.36. This is 2.53% less than the trading day before Wednesday, 24th Apr 2019.
During day the stock fluctuated 1.07% from a day low at $42.15 to a day high of $42.60.
30 day high of the ZNH stock price was $52.34 and low was $39.69.
90 day high was $52.34 and low was $33.95.
52 week high for the China Southern Airlines Company Ltd (ADR) - $57.27 and low - $25.45.
China Southern Airlines Company Ltd (ADR) has broken the wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $44.49. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. China Southern Airlines Company Ltd (ADR) holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $45.12 and $43.62. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday April 18, 2019, which indicates further falls until a new bottom pivot has been found. 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.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 29 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
China Southern Airlines Company Ltd (ADR) finds support from accumulated volume at $40.45.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.45 between high and low, or 1.07%. For the last week the stock has had a daily average volatility of 1.48%.
China Southern Airlines Company Ltd (ADR) is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
The China Southern Airlines Company Ltd (ADR) stock holds several negative signals and despite the positive trend we believe China Southern Airlines Company Ltd (ADR) will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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|ZNH $42.36 ($-1.10 -2.53%)|
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