UAL
Lots of rotation in the travel sector and UAL was hit a good amount today in flow. RSI is a bit high so looking to enter around $48 if it continues with volume or a pullback to occur and then try and get in around $46 or so. If it can break through that weekly fib it has some room to run.
Long term pros:
Stimulus news is upcoming + vaccine rollout.
Still down about half from COVID highs
Short Term Pros:
Lots of flow
Long Term Cons:
Airlines may never pick up where they were before in terms of price
Vaccine Rollout
Short Term Cons:
RSI looks to be a bit high so a pullback is due
PT:
$54 by the end of March depending on if pullback occurs
Invalidation:
$44
Long term pros:
Stimulus news is upcoming + vaccine rollout.
Still down about half from COVID highs
Short Term Pros:
Lots of flow
Long Term Cons:
Airlines may never pick up where they were before in terms of price
Vaccine Rollout
Short Term Cons:
RSI looks to be a bit high so a pullback is due
PT:
$54 by the end of March depending on if pullback occurs
Invalidation:
$44
Note
This blew through PT1 the next day. Could see some consolidation over the next few days
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.