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 ?
AAL
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.
AAL American Airline, an imminent breakout is coming.Following the price action of AAL during the past days, it's clear that Bears failed to retest the lows which I was highly anticipating around 10.30 in fact it made an impressive strong rebounded today from 11.41 low on decent volume. RSI pointing sideways at 42 after bieng downward sloping.
On average volume, today's reverse price action for me is bullish (over the short term) despite all the negative news and sentiment surrounding the Airline industry in general.
My view will be confirmed by a break above 14.29 which was 1 July high, which should be followed by a test to 18.44 then finally a test of 5 June high @ 22.8.
I need to see a decisive breakout of the downward sloping trendline tomorrow or Friday before planning any bullish trades.
This analysis isn't a recommendation and readers should be aware of the high risk involved in trading and must perform thier own analysis before taking on a trade.
I owned a straddle at 13$, got out of the put leg today with a profit, so now I am left with a free call option at 13$.
I don't own AAL stock and I have no plans to owning it for the next 72 hours.
Wise trading everyone.
