Potential bounce off support.
With all the trouble in Europe at the moment i think it's a little safer to look at trades in different areas rather then basing all of your ideas on weather or not Greece will reach a deal with its creditors or not. With oil prices moving lower out of its range this is good new for American airlines as they are extremely high consumers of oil.This obviously means lower costs and more profits. To add to this we can see the price has just bounced off a key weekly support level. This support level has held strong over the past 5 weeks as price tried to push lower but was rejected. My two price targets are clearly shown in the chart.
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