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China Eastern Airlines Shares Climbing Higher, Up 2.8%

Published on Fri, 02/01/2013 - 11:16
By Robert Cotter

China Eastern Airlines (NYSE:CEA) is one of today's biggest movers, up 2.8% to $23.05. The Dow Jones Industrial Average is now trading 0.9% higher to 13,992 and the S&P is trading 0.7% higher to 1,509.

In the past 52 weeks, shares of China Eastern Airlines have traded between a low of $13.92 and a high of $23.83 and are now at $23.05, which is 66% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 2.4%.

China Eastern Airlines Corporation Limited provides passenger and cargo airline services.

China Eastern Airlines (NYSE:CEA) has potential upside of 39.8% based on a current price of $23.05 and analysts' consensus price target of $32.24. The stock should find initial support at its 50-day moving average (MA) of $20.10 and further support at its 200-day MA of $17.11.

By Robert Cotter
rcotter@fnno.com