For TA traders whole numbers often reflect points of market resistance. I think what Winner is suggesting that currently $3 is a point of resistance and when it is broken market inertia will see the share price quickly climb.
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I thought it would be something like that. I am not familiar with all the secret handshakes, flags and crosses that keep the TA'ers occupied.
... although there was a very interesting pattern in my muesli this morning -- looked bit like a plane taking off! Or crashing, depending the how you held the bowl.:p
Strong run over the lasat few weeks, looking good. Today is the inaugural flight for Houston at around 6PM, I'll be there.
Some 5 months into the new financial year and growth got some real momentum going.
Based on the numbers in the update expect H1 passenger revenues to be $225m higher than last year (+11%)
Of that increase $160m coming from long haul - the new routes are paying off eh.
No wonder AIR super confident of H1 earnings n excess of $400m - double last year
What does Percy keep reminding us - price follows earnings
It's more than patterns in your muesli mate - its all psychology
Over the last 10 years AIR share price has got close to $3 but never stayed there. I think it went briefly over for a few hours a few months ago.
It seems a point where punters feel they should sell (probably thinking it is not going any higher). That's what happened several times now over the years. Spooky eh.
But what often happens is that once these 'resistance' levels are broken all the bad feeling about $3 (in AIRs case) will be forgotten and the price will head up to another resistance level - maybe $3.50 or $4.00
The best part of the story is that when a long entrenched resistance level is broken than it becomes support - any minor correction will only be to that point.
You asked why not buy big now if the big gains will be made when $3 is breached. Answer is that there is no certainty that $3 will be breached and in this case buying now has limited upside. A matter of waiting for greater certainty.
But for he likes of you onion who have been holding for years now all this doesn't matter does it ....at $2.84 you happy, at $3.50 happier still eh
Do you think AIR share price will go over $3 one day? Be honest with me and not consult you muesli or onion skins.
Electronic Card Spend in NZ for November saw Travel and Accommodation category sales up 11.4% on last year. Last three months they are up 10.9% on last year
NZers sure spending heaps on travel ..... and Air NZ seem to be cashing in
S/P sure is starting to look like faking it till its making it. Heres hoping it can break thru the surface tension and fly.
Just caught an interview on CNBC with Chris luxton. Re Houston. "theres 30 million Americans with NZ and Aus on their bucket list" re comp , plenty for all. Also they mentioned Qantas, "fastest turnaround in aus corporate history"profit wise, $900 million half yearly profit. Qan s/p been crabbing sideways a bit similar to AIR but down today
Thanks for the information Winner.
I've only recently bought AIR so have only a modest paper gain at present. I've stood back until recently because I'm cautious by nature and airlines are supposed to be a great way to lose money.
But AIR seem to be doing really good things; great things for a relatively small player in global terms. I like the innovation, the sense of humour, and mainly the history of good strategy (sensible partnerships, good fleet of aircraft, considered route expansion).
So I certainly hope they can continue to grow their SP, and yes, break the $3 hoodoo.
My Ego has learnt not to use that phrase:sleep: Vol not very convincing and the s/p has stalled before when that phrase "backing the truck" up was used. At the mercy of the Fed decision tomorrow?
Share price doing better than their customer services at the moment. 4th day with no response to a complaint regarding baggage delay of 28 hours when in Vancouver over the weekend. $6500 in tickets including business class, 2nd time in 6 months my bag has not made the same international flight as me and having to go shopping for 4 hours and $1200 to find cold climate clothes and toiletries for Calgary in the middle of a busy schedule is not my idea of fun. It happens and how companies deal with this after the event will dictate the outcome. Obviously not having so much as an acknowledgement call is not making a very good impression.....
Actually finally got a call from them midday Friday after I left a phone message Thursday morning. They will be in touch next week after looking into. I did mention a 5 day wait was not up to expectations and I was unable to complete travel insurance claim without closing things with them first.
SP over $3 for a bit longer than last time would be good ;)
Cullen Airlines should review the performance of their ground handling contractor at YVR.
Bop boop de do
Marilyn
Edit: I may have been hasty to assign blame to YVR ground handling contractor. After reading workingdads original post the problem seems to be at the AKL end.