AAL has plummeted in 10 weeksAAL has plummeted in 10 weeks
This chart shows the weekly candle chart of American airline stocks from the end of 2019 to the present. The graph overlays the bottom to top golden section at the beginning of 2020. As shown in the figure, the stock of American Airlines has maintained a relatively weak and volatile consolidation pattern after completing a small level double top pattern in March and June 2021. The low point in October 2022 just stepped back on the 0.236 position of the bottom to top golden section in the figure, completing the shoulder position of the large level head to shoulder! The stock of American Airlines has plummeted in the past decade and is about to hit its October 2022 low again! So in the future, we can use the low point in October 2022 as the watershed to determine the strength of American airlines!
Aalstock
AAL - 3 Long scenarios - Fly little bird, fly 3 Long scenarios
Fundamentals
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General
One scenario developing doenst invalidate the other. Would trade one after another if it should happen - or all at the same time.
Scenario 1 (Green arrow)
Target
Next resistance level (level 1).
Confluence with the 50% level of a monthly range.
Requirements
- Price closes above buy zone 1
Invalidation / SL
- No break under buy zone 1 AND creating lower swings
Time duration
Days, weeks, months, years... ;)
Scenario 2 (Orange arrow)
Target
Next resistance level (level 1).
Confluence with the 50% level of a monthly range.
Requirements
- Price dto buy zone 2
Invalidation / SL
- None, this is a possible longterm hold
Time duration
Days, weeks, months, years... ;)
Scenario 3 (Blue arrow)
Target
Next big resistance level
Requirements
- Break above level 1
Invalidation / SL
- None, this is a possible longterm hold
Time duration
Days, weeks, months, years... ;)
Good luck