American Airlines - $AAL Checking back in with AAL to see how it's looking.
It's been a rough couple of weeks for the Airlines. Apart from record low revenues, the Airlines face another hurdle that's quickly approaching. Airline carriers are prohibited under the terms of $25 billion in federal aid from laying anyone off until Oct. 1. Under the Worker Adjustment and Retraining Notification Act, employers are required to notify staff about possible layoffs or temporary furloughs generally 60 days in advance and have already begun doing so. It's not a guarantee that they will lose their jobs but it is a warning that it may be possible. We're also watching AAL earnings expected around 7/23 this month.
TA:
AAL is breaking out of a descending wedge. We could see a nice a pump here. I would look for resistance at the 50 and the 200 MA. We like $14.29 range for a possible quick swing trade.
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