Risky Play For American AirlinesI think we saw a recent spike from American airlines as buyers are finding interest as price hit the top of previous major structure (green arrows) an s&r play.
Notice the spike of the candle where I have a red arrow drawn. To me this looks like an exhaustion candle as buyers got slapped back down. I some what agree with playing the previous structure as an s&r play, but for me it's too much of a risk.
I would need more time to see trend start to develop for a position on american airlines, as we do sit under Resistance.
Premarket is doing good, but I'm not looking at this from an intraday perspective. I say let it develop.
AAL trade ideas
A glimpse into the future.. Beyond the 1 hourLonger term outlook.
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Small Dip Swing PlayMy assumption would include a small dip if NASDAQ:AAL does continue bullish.
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I'm taking a survey:-We have a squeeze play setting up.
Survey Question:
Who thinks it's going to keep going lower before the squeeze?
Mind you, I have marked a $1.00 drop in the price is a 10% drop in the overall value, and to see historic lows close would cause a 30% drop in overall value.
Respond in comments or "like" if you don't think it will continue dropping lower.
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Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
Ticker: I don't specialize in the companies sector, I was inspired to publish my idea independently.
Tip: Check another tradingview publication if your looking for something you can't find here.
Thank You, +AndrewAponas+
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BUY!BUY!BUY!Stocktwits+Twitter Users: please view the original publication on tradingview before commenting.+++++++++++++++++++++++++++
Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
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Thank You, +AndrewAponas+
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Not expecting AAL back to $19 until OctoberWith all the uncertainty around the vaccine, especially its effectiveness, and the length of the time it took to get where we're now, I would not expect the airlines to return to the June's levels in the upcoming months; and to the pre-COVID numbers at least until April 2022.
I see, AAL tend to move in a parabolic manner, which would not be an exception this time as well.
I might be wrong as it always depends on a possible catalyst that may or may not spike the market aside of all the technical data.
One thing is for certain, the bankruptcy is not in the cards for ALL.
American Airlines: Evaluation of Falling Fractal
Price breaking above red resistance line is the first sign of recovery.
Price going deeper in greener demand area is the actual place of recovery. Though the nearest yellowish part of the chart is a local resistance.
Price breaking out blue curved line is a confirmation of reversal.
Common fractal is circled.