Hmmm ...Has the boredom end with AIR??
Quote:
Originally Posted by
vin
Back over $3, wow. Major rollercoaster of emotions with this company. Hopefully stays above this mark for a good period of time.. at least.
Vin...The only emotions is whats been posted on Sharetrader forum..
AIR has for the last 5 months been stuck in an near untradeable (10% swing) boring trading pattern (range 2.70 to 2.96)..The only excitement for the TA people was the hope of a sustained breakout but that breakout only lasted a couple of weeks in late January..it failed and got knocked back by the Secular resistance pressure after setting a nice bull trap just above the secular resistance (3.17 to 3.22)..no doubt burning many, especially the low PE ratio brigade.
Comparison:..5 months ago Air was around $2.90 the NZX50 was 6050 ..today AIR is trying to achieve a closing day breakout at 3.01 up 3.5% while the NZX50 is 6750 up 12%..
If Air can sustain its breakout this time it could play catch up with the NZX...but it will need the global markets help which is presently pausing after a surprising lengthy rally and especially the Global airline index which has also paused after a sudden rally starting 6 weeks ago...
TA wise AIR is looking healthy..even though it has been in a lengthy boring trading range the primary up trend has kicked up a trend notch and is in a long term moderate up trend...this is a bullish scenario but that Secular resistance is still the big bogey...
Disc: Got bored and Sold out of AIR late in March at 2.84 (slight capital loss + DIV)..looked for bigger fish to fry and used AIR money to buy CAV (at 55c)..
Best of luck to the AIR holders :)
Consensus broker valuation now $3.28