Easyjet
easyJet - Ready to take off again?Buy EasyJet (EZJ.L)
easyJet plc is a United Kingdom-based low-cost airline carrier. The Company operates as a low-cost European point-to-point short-haul airline. The Company operates through its route network segment. The Company operates on over 820 routes across more than 30 countries with its fleet of over 250 Airbus aircrafts.
Market Cap: £4.77Billion
Having completed a large inverse head and shoulders bottom in the middle of September the shares have been on a great run. The recent spike to highs of 1330p was met with some profit-taking. The correction lower has been quite shallow, and the price now appears to have broken higher from a pennant pattern. This is considered a continuation pattern and therefore the expectation is for further upside in the short to medium term.
Stop: 1171p
Target 1: 1383p
Target 2: 1505p
Target 3: 1600p
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EZJ Fractal AnalysisHey there again,
This time i wanted to share a more clear #fractal analysis. This time with easyJet stocks. Analysis based on Fibonacci and time Cycles.
This is the first image, based on a 1 month time frame. Ill try to keep the track in less time frame and keep you guys up to date.
Just a reminder, fractals are similar among time but not equals so is just a reference on what could happen. As you know, in this job anything could happen lol.
Note: This are my personal interpretations and case studies, and are not financial advice! Use it as your own risk!
Hope you find it interesting and you are as usual welcome to comment.
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Peace out!
Charter X
Will the ascending support line hold for Easyjet EZJ?Looking at the monthly chart we can see an ascending channel, look out for a bounce off this approximate level in the next few days, if so it could be the beginning of a new bull run for Easyjet.
Like this idea if you agree and follow for more like this.
EasyJet (EZJ) Resistance and BounceThe daily stochastic and RSI seem to point to a bounce soon, and there will likely be much resistance at the 1552 mark. Considering it’s oversold when looking at the daily. I wouldn’t expect it to drop below 1552. So I am suggesting a new bull run to ensue shortly.
I'm no expert, so take what I say with a pinch of salt :)
Cheers.
Easyjet about to fly highRounding bottom on the daily chart and the bullish RSI and DMI indicators coupled with the bullish RSI divergence in the background (on weekly chart) suggests the jet is about to fly high. the stock price could test 1080 levels.
EURNZD - TAKE THIS SHORT RIGHT NOWI'm taking this one short right now all the way until 1.47. We see weakening RSI, strong downward motion in the price action, all in the midst of a downtrend. Just watch for some unexpected breaks up, and you should be golden.
EZJ ready to break outEZJ has been trapped in a symmetrical triangle for a few months the boundaries have held well. RSI is showing support in the 45 area indicating decent support for the bull side. Looks ready to break to the upside in the next week or so.
Buy EasyJet on multidiagonal setup A long trade appears to be setting up here with a confluence on the multidiagonals around the 11th January, so expect a big move near or around then.
easyJet eyes 50-DMA supportRepeated failure around 1080 area if followed by a daily close below 50-DMA of 1038 would confirm the bearish MACD crossover and open doors for a sell-off to 200-DMA level of 987.60.
Only a daily close above 1100 would open doors for a fresh rally to 200-DMA seen today at 1247.
Easyjet - Expect dip demand as long as prices stay above 973 The weekly chart clearly shows a bullish price-RSI divergence. Hence, the dip demand is likely so long as the prices stay above the July low of 973.
A minor retreat cannot be ruled out as the daily indicators show bullish exhaustion.
EasyJet – Fake breakout?Daily chart pattern
Bullish symmetrical triangle breakout
Overbought money flow index for the first time after March 2015
Stuck at 50-DMA level of 1125.24
The daily chart suggests the bullish break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily RSI, which is well short of overbought territory.
Overall, we are likely to see range bound action with a downside bias.
Bullish move would gather pace after prices see a day end close above 1177 (July 14 high).
Easy Jet – attempting bullish break from symmetrical triangleEasy Jet shares are top performers in FTSE100 index.
Shares are trading 2.13% higher on the day around 1100 levels. Prices have set a intraday high-low of 1127 and 1069 levels respectively.
Daily chart pattern – Symmetrical Triangle
A bullish day end close today would open doors for a rise to 1177 (July 14 high) and add credence to the view that a mid-term bottom is in place around 973 (July 26 low).
Daily RSI and Money Flow Index are in favor of a bullish daily close.
Bullish invalidation is seen only if prices see a day end close below 1044 (previous day’s low).
Easy Jet - Should we trust the rally?Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today.
The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an addition to the bearish news.
On the technical front, the news is not good either-
The volumes have stayed below 20-day average through the current technical recovery.
The money flow index also suggests the corrective rally is more due to profit taking/unwinding of shorts.
Hence, the current rally may not be sustained. Moreover, gains have come after last Thursday’s BOE stimulus, which have triggered broad based gains. After the effect of stimulus wanes off the stock may resume the downtrend.
On the higher side, we keep an eye on 1177 levels, while fresh sell-off is seen once the recent low of 973 is breached.
Easy Jet - Risk of a sharp correctionWith oil prices down and looking bearish, airliners may see a much needed corrective rally.
Easy Jet daily chart shows, rising bottoms on the hourly chart. As long as June 27 low of 990.50 is not breached on day end closing basis, the risk of a snap back to 1100 levels is high.
