Cathay Pacific receive a life line

9 Jun 2020

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.

10 Jun 2020

Catatan

we witnessed the gap up and it went up fiercely and came down below the resistance line once more.

10 Sep 2020

Catatan

Still not recovered yet...

22 Sep 2020

Catatan

more retrenchment of air line staffs worldwide.....

5 Nov 2020

Catatan

both airlines are still in the tunnel zone.......

13 Nov 2020

Catatan

Nearly 6 months later, let's review these charts again.

We can see that there is a triple bottom sort of support for both Cathay and SIA.

Cathay - 3.25 level
SIA - 3.29 level

Both have broke the resistance level as well and the likely reason is the air travel opportunity opening up between both airlines with soaring flight fares and overwhelming demands!!!

Cathay - 3.189
SIA -3.69

In my opinion, this could be a good risk/reward ratio opportunity to go long these counters IF you have the patience and time to ride out this global travel and tourism "dark days", so to speak. Moving forward, we can expect more alliances among airlines globally and with the vaccine final phase coming out strongly, we may no longer need to worry about the cases in US and Europe anymore.

States that are closed for business will soon be able to reopen their business , stimulating the economy with a much needed boost.