AAL DAL and the Airline Destiny Airlines earning are all due in July:
DAL 14 July BMO est. $-4.06 / $2.17B
UAL 21 July AMC est $-9.41 / $1.14B
AAL 23 July BMO est. $-7.03 / $1.43B
LUV 23 July BMO est. $-2.67 / $0.54B
All eyes will be on DAL tomorrow to sense where this mess is going.
As for AAL, it closed above the downward sloping trendline but this could be easily a bull trap. I will not get excited yet. I believe DAL earnings will have a big impact on the industry.
Trendline may act as support and hence may create a better odds for long positions.
With FIB resistances intact, I need to see decisive solid breaks to get in. Volume Volume Volume.
This analysis represents my own view and it isn't a recommendation. Readers should do their own studies before taking on any position. Data in this analysis aren't guaranteed for accuracy.
Wise trading everyone.
