8.28.17 | AAL | MACD cross-over, Bullish Continuation
Updated
AAL
(Code-Name_Virtue)
Classic MACD cross over signal on AAL. Price has sold off for about the last 30 trading sessions placing the MACD at a prime value to cross over for a bullish retracement. This setup is pretty basic I am not going to complicate the trade with much more analysis other than this. The MACD has already crossed over signaling a buy, and the Histogram has also just crossed the zero line bullish. Any price action trading against this will be noted as bullish divergence and assumed to be followed by a corrective move in support of the bulls. Other than this classic MACD setup I have key support and resistance lines drawn where price is likely to Pivot on, and a price range of where price will most likely trade to/through. The Darker shaded areas inside the Price Range are targets that price will should trade to around that specific time, if we do see a bullish breakout. The only cautionary statement here is going to be in reference to the natural disaster in Texas that compromised the oil reserves sending the price of Crude Oil down and the price of fuel in the USA up. This may create uncertainty in the market, however overall the Stock is setup to rally and I think that will prevail.
(Keymaker)
Entry, buy the swing low of the 1 hour chart.
Exit, at any of the targets or when you're comfortable.
Stop, use about 1/3 or 1/2 the value of the ATR. If your setting stops.
(Code-Name_Virtue)
Classic MACD cross over signal on AAL. Price has sold off for about the last 30 trading sessions placing the MACD at a prime value to cross over for a bullish retracement. This setup is pretty basic I am not going to complicate the trade with much more analysis other than this. The MACD has already crossed over signaling a buy, and the Histogram has also just crossed the zero line bullish. Any price action trading against this will be noted as bullish divergence and assumed to be followed by a corrective move in support of the bulls. Other than this classic MACD setup I have key support and resistance lines drawn where price is likely to Pivot on, and a price range of where price will most likely trade to/through. The Darker shaded areas inside the Price Range are targets that price will should trade to around that specific time, if we do see a bullish breakout. The only cautionary statement here is going to be in reference to the natural disaster in Texas that compromised the oil reserves sending the price of Crude Oil down and the price of fuel in the USA up. This may create uncertainty in the market, however overall the Stock is setup to rally and I think that will prevail.
(Keymaker)
Entry, buy the swing low of the 1 hour chart.
Exit, at any of the targets or when you're comfortable.
Stop, use about 1/3 or 1/2 the value of the ATR. If your setting stops.
Note
Note
Here is the 1 hour setup; the Key Buy Signals here is a bullish crossover on the MACD and RVGI signal lines, as well as a bullish MACD Histogram. Ignore the targets but take note of the Price Range. I have also highlighted the Pivot Point price turned on.Note
Note
It looks like we may have a possible Bullish Flag pattern shaping up on the 4 hour chart. Stay Alert here folks, also notice the Bullish Divergence on the MACD Histogram.Note
Note
The bears failed to break support today. A bullish bounce on the MACD Histogram will be the first good signal to go long.Note
Note
First confirmation of a Bullish Continuation today.Note
Note
Note
I have place a flag on top of today's bullish close to mark the 1st confirmation of a bullish continuation, I have also added the RSI, MACD, and Bollinger Bands. We can see the Mid-line of the Bollinger Bands is running through the middle of the target zone, this is a logical place for price to be trading to.Note
The RSI and MACD have quite a bit of value left, this rally may have the potential to trade to the upper band, I do not think we will see the airlines move with this much momentum though.Note
*placed
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