United (UAL) poised for a breakout?
United looks poised for a breakout. It continues to use the more recent support level at about $40.54 to rebound and head upwards. It has been moving mostly laterally but also has been making progress upwards. Based on it RSI (64.67) and its D+ line crossing over the D- line and the ADX beginning to slope upwards to show that the trend is gaining momentum, the technical indicators show that it is poised for a breakout. That is just the technical side of it; today, their CEO talked about how they were investing over $8 billion and that they have set multiple days with record travel in the month of June. That coupled with a price to earnings ratio of 8.15 and its good technicals show that it will breakout in the near future. I will be taking a long position and recommend you do the same as well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.