AAL - MONTHLY VIEW IDEAOR.....FELL BELOW SUPPORT. SPRUNG BACK ABOVE AND NOW RETEST THAT SUPPORT ON MONTHLY TIME FRAME !?! WE MIGHT NOT NEED NO STINKING DIVERGENCE !
AAL
AAL - IDEAHAVE GAP FILLS LOT LOWER. WE'RE ALSO STILL WORKING ON BULLISH DIVERGENCE ON THE WEEKLY TIME FRAME....SO MAYBE IT CAN DIP DOWN AND GIVE US THAT AND FILL GAP OR GAPS IN THE NEXT FEW WEEKS ?
AALshortsqueeze
0.236 fib resistance - 13.56
0.382 fib resistance - 16.85
0.5 fib resistance - 19.51
OPENING: AAL AUGUST 21ST 10 SHORT PUT ... for a 1.02 credit.
Metrics:
Max Profit: $102/contract
Max Loss: $898/contract (assuming stock goes to zero)
Break Even/Cost Basis: 8.98/share
ROC% at Max as a Function of Notional: 11.4%
Notes: High implied at 171%. Looking to wheel this if it doesn't stay above 10 (i.e., acquire shares, cover).
AAL invalidatesMy count invalidated ~12.3. I give two scenarios I see. I'm leaning to a bearish outlook at this point.
AAL - WEEKLY VIEWIT WOULD BE REALLY NICE IF IT WOULD DROP DOWN AND GIVE US BULLISH DIVERGENCE ON THE WEEKLY TIME FRAME. WE'LL HAVE TO SEE HOW LOW IT CAN GO TO DEVELOP IT OR NOT.
AAL - UPDATETHERE'S ALSO SOME GAPS TO BE FILLED LOWER SO BE CAREFUL OR MAKE SURE TO HAVE STOP LOSSES SET.
AAL turns bullishAAL leaning towards bottom being in. Waiting for a 5 wave impulse and correction to confirm.
AAL - UPDATEEVEN THOUGH I GOT STOPPED OUT OTHER DAY....BACK TEST WAS COMPLETE AND HIGHER LOW MADE, IT'S UP 9% PRE MARKET TODAY.
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.
AAL close to my anticapted bottomAAL had a nice spike. Looks to me to be a corrective move and looking for another low in this correction.
AirlinesUAL, DAL, SAVE, and AAL all formed identical patterns and appear to be breaking out of their wedges. Alongside the major banks, it appears funding has shifted from big tech to banks and airlines.
AAL - LONG SETUPAAL - SHOWING BULLISH ENGULFING CANDLE AT THE 78.6 RETRACE LEVEL. LOW RISK ENTRY FOR LONG
AAL Pop and dropThink we have another drop, but bottom could be in. This move up today doesn't look like a great impulse yet so assuming another low. Will lean more bullish if breaks above ~12.2 and then ~12.7
AMERICAN Airlines Technical Analysis - ALLNASDAQ:AAL
Based on Technical Analysis, the idea is to go short.
AAL close to expected BottomAAL appears to be close to finish a 5 wave move to have a bottom in wave C. Watching to see if it breaks above ~12.25 with an impulse to turn more bullish
Look Up Into The Sky - AAL TARGET UPDATEWhat we have here is as typical Wedge pattern with the (E) wave ending at around 11-10 USD.
To confirm this movement we have our CCI indicator which seems to indicate that its losing steam on the downtrend.
And to all the haters saying the airline industry is gonna go bankrupt. The federal loans disagree with you.
If you want to buy, now is the time.
