Upgrade Alert for China Southern Airlines (ZNH)
China Southern Airlines (NYSE:ZNH) was upgraded from Reduce to Buy at BNP Paribas today. The stock closed yesterday at $28.85 on volume of 35,000 shares, above average daily volume of 32,000.
China Southern Airlines has overhead space with shares priced $28.85, or 2.2% below the average consensus analyst price target of $29.50. China Southern Airlines shares should first meet resistance at the 50-day moving average (MA) of $31.37 and find additional resistance at the 200-day MA of $35.34.
China Southern Airlines Company Limited provides commercial airline services throughout China, Southeast Asia and other parts of the world. The Company also provides other airline related services including aircraft maintenance and air catering.
Over the past year, China Southern Airlines has traded in a range of $25.14 to $64.71 and closed yesterday at $28.85, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 1.3%.
SmarTrend recommended that its subscribers protect gains by selling shares of China Southern Airlines on August 29th, 2016 by issuing a Downtrend alert when the shares were trading at $31.75. Since that call, shares of China Southern Airlines have fallen 11.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades china southern airlines