AALD trade ideas
AAL - Bullish reversalNASDAQ:AAL had been in a downtrend since march 2018. After the significant dip in march 2020, buyers shown good interest in it and kept the price above 10 for couple of months, making a strong support level. Bullish shark harmonic pattern has also been formed and price reversed from PRZ(Price Reversal Zone) level. Price marched up to meet the demand of buyers and faced resistance around 25.80 which was a previous support level. Price retraced for couple of months but with low volume. Finally, in march 2022, price did a strong reversal from 16$ support level with a significant volume making bullish hammer. That marks a higher swing low and is a strong indication of a bullish reversal and price is likely to go up to 26$ for a short term target. If it break 26$ level, then a strong bullish trend can be seen.
Inverted Head And Shoulders also on #ALLso yesterday i posted a few ideas of some very clear inverted head and shoulder patterns that are present in the airline companies see also #UAL #LUV both are clearly set up and showing massive opportunities to the top side the biggest being UAL with the measure of a possible 19% upside brining it into the mid 60's price range with in the next. Heading into earnings this we be another play that I will be watching for that possible breakout to the upside!!!
American Airlines Group IncThe last 4 years have been brutal for American Airlines. That’s about to change, time to get onboard (I’ll get me coat… )
On the above 10-day chart price action has collapsed 70%. A number of reasons now exist to be bullish, including:
1) Price action resistance breakout.
2) A ‘incredible buy’ signal prints.
3) RSI resistance breakout. Followed by the RSI falling wedge breakout. Excellent.
4) A Dragonfly DOJI candle printed on the monthly chart (below) as price action consolidates within a falling wedge pattern.
Is it possible price action falls further? Sure.
Is it probable? No.
Entry: $20 and above.
Stop: $16
Target: $34
Good luck!
WW
Monthly chart
AAL POSSIBLE SHORT OPPORTUNITYWe can see the price touch the horizontal resistance and 200 EMA. Stochastic oscillator shows overbought market conditions. Therefore, we are expecting the price to drop and make another lower low, however we recommend taking profit at 12,71 $ .
Invalidation above 19,60 $
American Airlines to take offI expect airlines to reverse somewhere from current levels. Going up for months, at least up to the summer.
My ideas are mostly based on technical analysis and few fundamentals, but I don't follow specific indicator.
I have some know-how by looking across several indicators. Of course, I might be wrong as well.
Forecasting bottoms and tops, not target levels or price path.
Don't forget to enjoy your day:)
Disclaimer:
This is my personal journal, not investment advice for anyone.
AAL will show up breakout now on this key level and channelMarket Instrument: AAL
Timeframe: DAILY
Analysis: Technical
Structure: Key Level, Descending Channel
Prediction: Bullish
AAL is running inside a strong descending channel where it requires a breakout on both the key level and upper boundary of the channel formed to continue its bullish run ahead.
American Airlines (NASDAQ: $AAL) Wicks Through Golden Pocket! 🎯American Airlines Group Inc., through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Madrid, Seattle/Tacoma, Sydney, and Tokyo. As of December 31, 2021, it operated a mainline fleet of 865 aircraft. The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc. in December 2013. American Airlines Group Inc. was founded in 1930 and is headquartered in Fort Worth, Texas.
3/6/22 AALAmerican Airlines Group, Inc. ( NASDAQ:AAL )
Sector: Transportation (Airlines)
Market Capitalization: $9.471B
Current Price: $14.59
Breakdown price: $14.70
Sell Zone (Top/Bottom Range): $15.40-$17.00
Price Target: $11.20-$10.00
Estimated Duration to Target: 112-116d
Contract of Interest: $AAL 6/17/22 15p
Trade price as of publish date: $2.26/contract
AAL Short-term price movement LONGWe could see AAL moving back back to the previous POC as indicated in the chart before moving to the upside there is a a lot of positive news surrounding the stock and then downside movement is somewhat of a divergence.
There is also news of large whales making large bullish options plays on the stock.
Expecting price to move back to the $19 price range before possibly going higher.
Will add likely update more information at a later date
