Daily chart of Air China Ltd.
For 3 trading days (26 May to 1 June), the stock traded and closed higher but
near or below its daily midpoint.
Note
: S-Trader indicators/tools is not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
In our previous post dated on 16 May, Air China stock was highlighted whether the rally is around corner.
A resistance zone formed way back to 2014/2015 came into play again. Last few weeks the price action has been trading side way within the resistance zone.
Weekly chart of Air China Ltd.
Last Friday (week ending 26 May), the price broke out the resistance zone.
However, the relatively below average volume associated with the price action.
But, on the daily chart observed relatively high volume supported the price action on 26 May as shown below.
Daily chart of Air China Ltd.
Note : S-Trader indicators/tools is not part of Metastock software package. It is our proprietary system/tools. If you have any further inquiries, please feel free to Contact Us.
Source :
1) Metastock
Weekly chart of Air China Ltd.
For the past few weeks, the share price had been trading side way with its weekly closing price falls within a resistance zone (between RMB 8.79 and RMB 9.57).
Looking at the chart back to 2014/2015.
The resistance zone was formed back to that period.
On 3 April 2015, broke out on the upside and rallied before the China stock market bubble burst.
Is the rally around the corner ?
Source :
1) Metastock
Its net profit dropped 39.8% to 1.5 billion yuan (US$72.8 million) in the 1st quarter, which was in part blamed on its investment losses of 141.6 billion yuan, the majority of which was from Cathay, of which it owns 29.99%.
With the removal of its Cathay stake from the figures, the company gross revenue rose an impressive of 9.8% in the 1st quarter, on the back of 7.8% passenger traffic year-on-year growth.
Despite the concerns over Cathay, the airline's passenger traffic outlook remains solid given the resilient demand.
More details on the news, click below link :
Air China feeling the effects of Cathay Pacific’s travails
Source :
1) www.scmp.com
