AIR CANADALong
AC LONG
Don't know much about the news and it seems to me that the news will be already included in the ticker price already so I can only go by what I see...
1) The daily bollinger bands, or the moving averages if u will, the 20 (middle bollinger) and the 12 (blue line) have crossed below which is very bullish and that is when the jump happened to the upper bollinger with a pullback on Friday which is normal. Overall, bullish move.
2) The RSI has been creeping steadily higher and is in convergence so no reason to think a top was hit and the next resistance will be 60 RSI on the daily.
3) Bull Flag, with the 23 dollar level holding quite nicely which is a fib retracement of 50%, which is a bullish move in itself.
4) The overall fundamental analysis for AC overall for 2021 is Bullish and this is a discount i do suspect.
5) People worried about layoffs need look at Canopy Growth which has had a surge after the initial announcement of layoffs in Canada.
6) If this was wave one completed and wave 2 has just consolidated then wave 3 target is on the board with 34 dollars being close to 100% which seems perfectly reasonable if you ask me...
Sincerely,
Justin
1) The daily bollinger bands, or the moving averages if u will, the 20 (middle bollinger) and the 12 (blue line) have crossed below which is very bullish and that is when the jump happened to the upper bollinger with a pullback on Friday which is normal. Overall, bullish move.
2) The RSI has been creeping steadily higher and is in convergence so no reason to think a top was hit and the next resistance will be 60 RSI on the daily.
3) Bull Flag, with the 23 dollar level holding quite nicely which is a fib retracement of 50%, which is a bullish move in itself.
4) The overall fundamental analysis for AC overall for 2021 is Bullish and this is a discount i do suspect.
5) People worried about layoffs need look at Canopy Growth which has had a surge after the initial announcement of layoffs in Canada.
6) If this was wave one completed and wave 2 has just consolidated then wave 3 target is on the board with 34 dollars being close to 100% which seems perfectly reasonable if you ask me...
Sincerely,
Justin
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