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CEA bottoming out!

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narrow_range2 April 26, 2012 (Chinavestor) Shares of China Eastern Airlines (HKG:0670) continued to recover from 6 months lows on Thursday. Given a five day winning streak, investors may have to prepare for profit taking. Hong Kong listed H-shares of the company surged 14.2% in the last five trading day, as the following chart suggests.


But this company is not just for swing traders. Chinese aviation industry has been steadily developing along China's economic development and is the second largest market for aircraft manufacturers. Read Chinese aviation industry overview for additional coverage.

U.S. investors have access to two CHine3se airliners listed on the NYSE: China Southern Airlines (NYSE:ZNH) and China Eastern Airlines (NYSE:CEA). These are the first two largest carrier in China in terms of fleet size. Given New York is not the home market for these companies listings, NYSE listed CEA and ZNH prices tend to follow prices of Hong Kong and Shanghai. Expect a similar rebound in the ADR price as well.

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