The stock of China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) gapped up by $0.18 today and has $42.73 target or 48.00% above today’s $28.87 share price. The 8 months technical chart setup indicates low risk for the $9.18B company. The gap was reported on Oct, 4 by Barchart.com. If the $42.73 price target is reached, the company will be worth $4.41 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 2.56% or $0.72 on October 3, hitting $28.87. About 20,394 shares traded hands or 12.51% up from the average. China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) has declined 0.69% since March 1, 2016 and is downtrending. It has underperformed by 12.90% the S&P500.
According to Zacks Investment Research, “China Southern Airlines is one of the leading air transportation enterprises in China, especially in passenger volume and the total amount of tax and profit for the past three years. 27% market share in 1996 made it the biggest airlines in China. With the head office in Guangzhou, the southern entrance into China, it has branch fleet bases in the provinces of Henan, Hubei, Hunan, Hainan and the Special Economic Zone of Shenzhen. It is also the 60% shareholder of four regional airlines – Xiamen Airlines, Shantou Airlines, Guangxi Airlines and Zhuhai Airlines.”
More notable recent China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) news were published by: Marketwatch.com which released: “China Southern Airlines Co. Ltd. ADR” on December 21, 2009, also Quotes.Wsj.com with their article: “DOW JONES, A NEWS CORP COMPANY” published on February 11, 2011, Investorplace.com published: “3 Airlines Stocks to Sell Now” on September 26, 2016. More interesting news about China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) were released by: Barrons.com and their article: “2 Chinese Airline Stocks Set to Gain Altitude” published on September 14, 2016 as well as Investorplace.com‘s news article titled: “4 Airlines Stocks to Sell Now” with publication date: September 19, 2016.
ZNH Company Profile
China Southern Airlines Company Limited, incorporated on March 25, 1995, is engaged in airline operations. The Firm also operates certain airline related businesses, including provision of aircraft maintenance and air catering services. The Firm operates through the airline transportation activities segment. The Company’s other divisions consist primarily of business divisions of hotel and tour operation, ground services, cargo handling and other miscellaneous services. The Firm provides services of domestic, international and regional scheduled and unscheduled air transportation of passenger, cargo, mail and baggage, general aviation, and aircraft maintenance. It acts as an agency of domestic and foreign airlines, and other aviation and relevant business (limited to insurance and agency business: personal accident insurance).
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