China Southern Airlines (1055.HK): Lifting by the progress of vaccine
Medion Jim November 20, 2020 1:35 PM
China Southern Airlines (1055.HK) is lifted by the progress of the developing the vaccine of coronavirus
China Southern Airlines (1055.HK) is lifted by the progress of the developing the vaccine of coronavirus. The vaccine developers, such as Pfizer, Biontech and Moderna, said the effectiveness of vaccines can achieve more than 90%. Investors are expecting that the worst situation for airlines is going to be over.
Recently, the company is updated from "equalweight" to "overweight" at Morgan Stanley. In addition, the target price is also raised from HK$2.97 to HK$4.19.
From a technical point of view, the stock broke above the consolidation zone between HK$4.00 and HK$4.45 on the daily. Currently, it is trading above both rising 20-day and 50-day moving averages. Bullish readers could set the support level at HK$4.45, while resistance level would be located at HK$5.33 and HK$5.65.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.