Long AAL IntradayLooking at AAL today saw some good movement and it seems to be liking the 17.83 support area. In terms of probability, the stock holds some upside potential atleast until the next resistance 18.55. If the stock opens lower than the 17.83 support I will be looking at a more bearish outlook, a movement towards the 16.93 previous resistance. All in all in my analysis I deduce that
1. if the stock opens higher than the current resistance (18.55) I can definitely see a movement up to the 19.50 region and towards 20.30
2. If the stock opens at the current support (17.83) I can see it move upto to the resistance level 18.55 and profit with a quick scalp
3. if the stock open below the current support (17.83) I can see the stock move down to the previous resistance level (16.93)
My pick: #1
Given the right momentum and bull pressure we can break past the 19.50 region and if so I can place TPs at 19.50, 20.30 and 21.20
Let me know if you guys think of anything else. Just looking to record my ideas and if they help anyone with their own analysis, all the better.
AAL
AAL Positions Grew 8% 🔥 and Still More to Come $28 📈Welcome to Profitlio Trading!
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Finally the patience has paid off super good. Positions grew 8% and still more to come $28 is the ultimate target. Proof analysis attached below. Sketch up your own trade setup and make sure you meet with the required confirmations first before you make your move!
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Waiting for BUY AFTER RE-Open world Airlines.NASDAQ:AAL
Let's wait to see if COVID-19 Uncertainty reduce,
Two things we need to watch out the market, ALL stock index expecting for more crush before V-SHAP recovery next 3-6 months, DJI Expecting crush again towards 20,000$ and NASDQ100 8500$ once this crush has done, good to buy airlines stock and all other stocks
Airlines are a tricky and complicated business that, personally I would stand aside but long term good to hold and wait for lockdown end.
🛑SUPPORT/RESISTANCE
✅S1= 9.8$
✅S2=6.9$
✴️R1=13$
✴️R2=24$
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NCLH thoughts... double top or double bottom?Norwegian looks extremely interesting here are my top 3 thoughts on what will happen! $AAL $GOL looks like this as well, wouldn't be surprised if lots of stocks in this sector looked like this. My personal take is we break through it (as much as I hate to say it)
1. (green line) we test 17.90 then bounce or simply break right through 20.38 to reach high 30s
2. (orange line) we consolidate for a couple days between 17-19 (bullish) then push past 20s to 30s
3. (red line) we reject 20.38 and fall to 12-14 dollar range... or we have a fake breakout and then reject hard falling to 12-14 dollar range
LONG $GOL, longtermBrazilian airline stock $GOL has a perfect set up, bought it last night, and its up 20% already!
Breakout on the ascending triangle could bring in a real big push! Longterm hold for me, will bounce back nicely!
Price Target: $10-$20
American Airlines - AAL Checking back in with American Airlines. As always, hit the search on our page and look up our previous AAL posts for more info as we tend to continue where we left off on the analysis.
Quick Recap:
American Airlines 1st Quarter numbers came in and as expected, they weren't good, down -$2.2 Billion.
They're looking for ways to cut costs as they are/were burning through $50-$70 million per day.
US airline travel as a whole was down approximately 95% compared to the same time last year.
Technical Analysis:
The $8.50-$9.14 area seems to have found some support for AAL as stock has decently bounced both times when hitting these levels at the bottom of the fib retracement. RSI has been rising and the price has yet to really follow. MACD looks like it's preparing to crossover to the positive side, but as always we will wait for confirmation before drinking the Kool-Aid. DMI is on the positive side but the ADX isn't rising with it showing strength.
Fundamental Analysis:
Most analysts still have this stock as a Hold or Sell rating at the moment and that's completely understandable still. If you see our previous posts we're still waiting to see people booking plane tickets until we hop back in. The next earnings report isnt expected to be any better than the first one as AAL is projected to report earnings of -$6.51 per share, which would represent a year-over-year decline of 457.69%. That being said, if AAL can cut costs and stay afloat, there is definitely a lot of room for upside as the stock isn't even near its 50 MA (we used 55ma in this chart - the yellow line). This one is still a risky play. If you would like to ladder buy into this one would be the best play, with a tight stop loss around the $8.50 area for the time being.
Brief reminder, airlines can most definitely fail. American Airlines is still fresh off it's bankruptcy that occurred in late 2011.
Hit us with a like and a follow for more updates. Cheers!
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American Airlines Supportprice has respected the levels near the bottom range of the current price. As we are continuing to test the support levels and create a more prominant bias and the market condition begin to strength one can look for a potential in holding AAL towards previous highs. Although the time range for this correction to occur could take weeks over time as the consumer confidence raises.
AAL Long for the future?!All the analysis is saying that until june we should go long in hopes for a profit, which I would agree with. However let us look at the bigger picture - as this can go very good or very bad.
If the virus does go on for longer than the summer and until December, the US economy (in my opinion) will not be able to bail AAL, as they simply won't have the cash or they will have to focus on other things to bail out.
However, if restrictions are removed and the economy does start to shown signs of a comeback, a long from now on could be the best option as even though they may about to go bankrupt; the USA could bail them out. IF!!!! This virus does not go for long.
Do not use this as investment advice. This is just to help guide you if you are investing in AAL, but do not use this as your final decision to invest.
Invest carefully and hope ypu all stay well!