Airline stocks - victims of Protests and CoronavirusAlready 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
Cathay Pacific Airways (293.HK) - 5 wave terminal completedSymmetrical triangle formation hints a break to the upside after strong bullish momentum is confirmed by the Directional movement index. Furthermore, the breakout of the consolidation/ascending triangle confirms the bullish rally.
Expect some short-term correction upon breaking the immediate resist
Cathay PacificWednesday, 9 June 2021
22:29 PM (WIB)
Cathay Pacific Airways Limited , together with its subsidiaries, operates as a carrier of international passengers and air cargo. The company conducts airline operations principally to and from Hong Kong.
It also provides property investment, travel reward
The worst might be over Record breaking lost with no full recovery in sight ?Appears to have reversed on the monhtly, week and daily chart.
Perhaps Vaccines passport will be the next play for this recovery. lets not forget how many people need to travel when there's some form of normality in-spite of potential hikes in eve
Cathay Pacific receive a life line Like SIA in Singapore, the government of HK too has extended a helping hand to bail out its national carrier, Cathay Pacific. Read article here .
For the speculative traders, they might want to take a short term buy trade tomorrow when the Cathay Pacific Airways shares resume trading.
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Displays a symbol's price movements over previous years to identify recurring trends.