Air New Zealand Limited (ASX: AIZ)

Air New Zealand Limited (ASX: AIZ) is the flag carrier airline of New Zealand, operating more than 110 aircrafts to over 40 destinations.

Technical Analysis: On a daily chart, AIZ prices are trading in an ascending channel pattern and trying to move up taking support to the lower band of the channel pattern that indicates the stock might gain upside momentum in the coming sessions. Also, prices are trading above its 21-period SMA that is also supporting our buy recommendation. Moreover, the momentum oscillator RSI (14-period) is currently hovering at ~60.949, indicating positive for stock price. An important support level for the stock is placed at AUD 0.582, while the key resistance level is placed at AUD 0.715.

Considering the company’s current price levels trading above its 21-period SMA, and momentum oscillator analysis, it is prudent to recommend a ‘Speculative Buy’ rating on this stock. The stock was analysed as per the closing price of AUD 0.635 per share on 29^th September 2022, up ~3.25%.

Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Daily Technical Chart – AIZ

Genesis Minerals Ltd. (ASX: GMD)

Genesis Minerals Limited (ASX: GMD) is a gold mining and development company. The company operates Ulysses Gold Project and Barimaia Gold Project.

Technical Analysis: On a weekly chart, GMD prices broke a downward sloping trend line by an upside and the prices are sustaining above the same from past one week that further indicates the prices might move up further. Though, the prices are trading below its 21-period SMA that is acting as a resistance level. Moreover, the momentum oscillator RSI (14-period) stood up from oversold region to ~37.127, indicating stock is picking up an upside momentum. An important support level for the stock is placed at AUD 0.920, while the key resistance level is placed at AUD 1.150.

Considering the company’s current price levels broke a downward sloping trend line, momentum oscillator analysis, it is prudent to recommend a ‘Speculative Buy’ rating on this stock. The stock was analysed as per the closing price of AUD 1.025 per share on 29^th September 2022, up ~15.17%.

Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Weekly Technical Chart – GMD

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

Disclaimer

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