Airline stocks - victims of Protests and Coronavirus
Already suffering under the curse of the HK protests, Airline stocks are heading south and now with the Coronavirus and being banned from outbound tours, we are of the opinion that we will see more dark days ahead for Cathay Pacific, among the other airline stocks.
Currently, it is settling at 9.58 , may rebound a little and likely to go further south. So long as it does not break the bearish trend line, this stock is unlikely to see the light at the end of the tunnel and has more downside to go.
For those who wish to short, wait for it to break down the 9.58 support. It still has a good 2+ dollars plus profits to be made if it hits the 7.05 level.
Trade safely, always use a Stop loss and employ appropriate risk and capital management.
Currently, it is settling at 9.58 , may rebound a little and likely to go further south. So long as it does not break the bearish trend line, this stock is unlikely to see the light at the end of the tunnel and has more downside to go.
For those who wish to short, wait for it to break down the 9.58 support. It still has a good 2+ dollars plus profits to be made if it hits the 7.05 level.
Trade safely, always use a Stop loss and employ appropriate risk and capital management.
Comment:
Comment:
www.businesstimes.co...s-very-bleak-outlook
this acts as another confirmation short !
this acts as another confirmation short !
Comment:
2 years 10 months later, it seems there might be light at the end of the tunnel. China is slowly opening up its borders as it improves on its vaccination policies. I may take a nibble of this stock to prepare for the eventual reopening as many are rushing to travel in and out of China.
At first , I thought it is China that people are afraid to travel to but it looks like people are now afraid to travel to any country for fear of catching this virus since it was announced that it can be transmitted from humans to humans. Imagine the damage it would caused to the airlines globally.....