AAL: The battle between Good and Evil.
Updated
AAL has been suffering quite some drama lately, here is the full scope of things
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Do you notice the basic chart pattern??school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:double_top_reversal
See it now? If you don't, please tell me. I don't know what I'm doing.
It seems AAL was going down ANYWAY and is just the beginning of a super bearish momentum... but let's zoom in and see what's been happening..
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Overall it really seems that EVIL is winning this fight.Notice that tight triangle in the complete bottom of the retracement.
Definitely downtrending.
EVIL - 2 | GOOD - 0
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This is the most recent trend. I start it from Feb, 20.
News news news, and down it kept flying..
As i watched it about two weeks away, the trend became very spotty and difficult to understand. I hope you can see how clear that is here...
Now we apply some indicators for the most recent month...
CCI indicates a change is imminent.
RSI shows downtrend still has more time,
I believe that'a also clear in the fact that the price moved down to under into that gray zone there...
but this... this is what i believe will happen next...
DUM DUM DUM...B......
As i mentioned earlier it seems that there is still an opportunity for it to fall a bit more.. and a bit more can easily snowball into a LOT more..
EVIL - 3 | GOOD - 0
oh wait, there was a bill passed to allow for some money pumped..
I don't really think it matters (remember I'm an ignoramus).. but I KNOW markets like that, even if its for a small upswing.. so ...
EVIL - 3 | GOOD - 1
Buuuuuutt, a quick google'n
" American Airlines Group Inc. AAL, -10.34% announced late Friday additional capacity cuts.The airline said it will suspend 60% of its capacity in April as compared to the same period in 2019, and is planning to suspend up to 80% of its capacity in May compared to May 2019. "
So.. by the same logic..
EVIL - 4 | GOOD - 1
now, all of that is just my quick look see..
let me do a little more lookin..
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This simply can't be any good...Note
Here is the most recent chart for your analysis...You'll notice volume was higher than normal for the week between the beginning and end.. I guess that's normal, but it ended in green.
EVIL - 4 | GOOD - 2
it's entering new territory with the highest price on the lowest line from the from week before. Not a good sign.
EVIL - 5 | GOOD - 2
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Well... heres my final forecast.. everything im reading is proving that the short term is going to EVIL..Let's see how the week goes..
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