AF trade ideas
AirlinesSome are yet punished, Overhead Supply zones take time to pierce, usually, prices stall in the bottom of the OS area, and suddenly open/raise above area, retesting and now becoming support zone.
Personally, I don't see further reasons to pray for disaster, but long-term support is around €7.50.
Air France-KLM takes offLast thursday AFP reported earnings for Q4 2016. The market took it well and the chart shows a breakaway gap on high volume (not visible in chart as this is volume data from ChiX, not Euronext where most trading takes place). The breakaway followed a higher bottom at 4.80, which is also a bullish sign. I entered a long position after open on friday with a stop at 5.70. A close below 5.70 would be considered a false move. First goal is to break the declining resistance line.
