Market Runner: China Eastern Airlines Corp. Ltd. (ADR) Gap Up Today Means Lower Risks Forward

Market Runner: China Eastern Airlines Corp. Ltd. (ADR) Gap Up Today Means Lower Risks Forward

The stock of China Eastern Airlines Corp. Ltd. (ADR) (NYSE:CEA) gapped up by $0.19 today and has $37.97 target or 60.00% above today’s $23.73 share price. The 7 months technical chart setup indicates low risk for the $11.65B company. The gap was reported on Oct, 4 by If the $37.97 price target is reached, the company will be worth $6.99 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 2.42% or $0.56 on October 3, hitting $23.73. About 20,647 shares traded hands. China Eastern Airlines Corp. Ltd. (ADR) (NYSE:CEA) has declined 0.25% since March 1, 2016 and is downtrending. It has underperformed by 12.47% the S&P500.

China Eastern Airlines Corp. Ltd. (ADR) (NYSE:CEA) Ratings Coverage

Out of 2 analysts covering China Eastern Airlines (NYSE:CEA), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. China Eastern Airlines has been the topic of 2 analyst reports since September 9, 2015 according to StockzIntelligence Inc. The rating was initiated by Goldman Sachs on Wednesday, April 6 with “Buy”. As per Wednesday, September 9, the company rating was upgraded by JP Morgan.

According to Zacks Investment Research, “China Eastern is involved in the Transportation Industry, and is the primary air carrier serving Shanghai, China’s eastern gateway.”

More notable recent China Eastern Airlines Corp. Ltd. (ADR) (NYSE:CEA) news were published by: which released: “China Eastern Airlines Corp. Ltd. ADR” on March 26, 2011, also with their article: “DOW JONES, A NEWS CORP COMPANY” published on February 11, 2011, published: “3 Airlines Stocks to Sell Now” on September 26, 2016. More interesting news about China Eastern Airlines Corp. Ltd. (ADR) (NYSE:CEA) were released by: and their article: “4 Airlines Stocks to Sell Now” published on September 19, 2016 as well as‘s news article titled: “The Zacks Analyst Blog Highlights: China Eastern Airlines, China Southern …” with publication date: June 26, 2015.

CEA Company Profile

China Eastern Airlines Corporation Limited, incorporated on April 14, 1995, is an air carrier. The Firm and its subsidiaries are engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery, tour activities and other extended transportation services. The Firm operates through the airline transportation activities segment. The Company’s other services cargo handling, air catering and other miscellaneous services. The Firm operates a fleet of over 550 aircraft, including 530 passenger aircraft, most with a seating capacity of over 100 seats, nine freighters and 20 business aircraft held under trust.

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