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Aeronautics

American Airlines: Buy opportunity on the 1W MA50 break out.AAL has completed 2 years since the January 2018 top. The downtrend since then has been non-stop and 1W even formed a Channel Down with the MA50 (blue line) acting as a Resistance and Lower High. With 1W however turning neutral (RSI = 49.107, STOCH = 47.539, ADX = 14.260, Highs/Lows = 0.0000) after finding Support at 24.70 (has been holding since June 2016) and even making a Double Bottom there, and the RSI on a bullish divergence, we are expecting a strong bullish break out once the MA50 breaks. We will buy on the break out and aim at the 1W MA200 (orange line). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NASDAQ:AALLong
by InvestingScope
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