UAL Falling Wedge Pattern SHORT from the Resistance Trendline
Updated
UAL is looking to fall 10% from the upper resistance trendline as the summer travel season
comes to a close. Shorting UAL with a put option in the money expiring in one month. Current
trend shows traders are not impressed by earnings without corresponding revenue support.
Analysts will likely soon proclaim a downgrade.
comes to a close. Shorting UAL with a put option in the money expiring in one month. Current
trend shows traders are not impressed by earnings without corresponding revenue support.
Analysts will likely soon proclaim a downgrade.
Trade closed: stop reached
Price broke over the falling resistance trendline with breakout from a falling wedge.
Closed the trade with a 3% loss. May go long if SPY rises in the upcoming week.
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