American Airlines AAL approaching an important level AAL is on a 30 minute chart. It had a big downtrend for the first week of the month and then
consolidated in a tight range and then a retracment trend up. Price has reached the top
of the high volume area of the volme profile. It is near to the standard Fibonacci retracement
zone tooled onto the chart. This zone from above rejected price on March 7 and 8.
AAL has had news of late about baggage problems but then came the news about an agreement
about expansion and remodeling at O'Hare in Chicago. I will watch AAL here, it make
break through the zone and then rise as much as 5%. However, it could be rejected and
5% into its support based out during the consolidation.
Airlinestocks
Can SAVE reverse from a lower low LONGSAVE missed out on a merger into Jet Blue. No other suitors have come along. It has sunk
in a falling wedge with episodic trends up in the wedge. At present price is at the longer
support trendline of that wedge. Relative strength reflects an oversold and undervalued
condition. The Fisher transform shows a curling up suggestive of the reversal. I will take a
long trade here as SAVE's trend down may be overdue for a correction. I am looking for a
swing trade of 20&% overall with the targets on the chart.
LUV and Attendants love the Settlement LONGLUV on a 120 minute chart fell heavily on news of a looming strike by flight attendants 18 %
into a bear flag and support followed by a narrow range consolidation and a volatility
squeeze which broke on news of the settlement. I LUV Sowthwest and its travel mileage perks
and open seating. The NR7 indicator on watch was firing continuously. I am taking a long trade
here and now with adds at any dips found moving foward. It is hard to pass by an 18% sale.
This will be profitable and will subsidize travel on LUV.