Air New Zealand monthly chart,
Descending triangle which is at 25 year low, triangle are often wave 4s which suggest it still wants to go lower
I actually want to see this break the low and create a 5th wave triangle overthrow as shown
This would be a great buying zone as the current price of $0.587 is offering a 7% dividend, if it were to drop to 42-44cents then it will increase to 10% yield, going back to pre COVID, the dividend went up to 0.08c
Downside is $0.40
Upside is dividend 7-10% possibly increasing up to 20%
Capital appreciation even up to the top of the triangle is 300% gain...
Risk is the company is carrying too much debt and the operating profit is very low at sub 5%, so there likely needs to be a restructure
Blowing the price to a new all time low will definitely create a catalyst for change and offer a good buying opportunity
This is partially government owned so very very unlikely to go bankrupt, but can still go through a restructure to reset debt and operating expense ratios