Is United Airlines Taxiing for Takeoff?
United Airlines has gone almost nowhere for two months. But now the chart may be lining up for a rally as earnings approach.
UAL exploded higher on November 9 when Pfizer’s vaccine news hit. It continued upward the following month before retreating in late December.
Since then, the airline has stabilized between $42 and $44. It’s also holding support at its 50-day simple moving average (SMA).
The 21-day exponential moving average (EMA) was resistance during that time -- until the last two sessions when UAL closed above it. That could signal the trend is turning bullish again.
Also notice the rounded bottom between December 21 and this week.
Finally, UAL’s Bollinger Band Width is the narrowest since late October. Earnings are next Thursday afternoon. Can prices stay in this super tight range before the news, or will buyers sneak in early?
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UAL exploded higher on November 9 when Pfizer’s vaccine news hit. It continued upward the following month before retreating in late December.
Since then, the airline has stabilized between $42 and $44. It’s also holding support at its 50-day simple moving average (SMA).
The 21-day exponential moving average (EMA) was resistance during that time -- until the last two sessions when UAL closed above it. That could signal the trend is turning bullish again.
Also notice the rounded bottom between December 21 and this week.
Finally, UAL’s Bollinger Band Width is the narrowest since late October. Earnings are next Thursday afternoon. Can prices stay in this super tight range before the news, or will buyers sneak in early?
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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