Elliott Wave View: Strong Impulsive Rally in American Airlines (Short Term Elliott Wave in American Airlines (AAL) suggests that rally from 11.6.2024 low is in progress as an impulse. Up from 11.5.2024 low, wave ((i)) ended at 15.13 as the 1 hour chart below shows. Pullback in wave ((ii)) unfolded as a double three Elliott Wave structure. Down from wave ((i)), wave a ended at 14.7 and wave b ended at 15.05. Wave c lower ended at 14.46 which completed wave (w). Rally in wave (x) ended at 14.81. Down from there, another zigzag unfolded with wave a ended at 14.5 and wave b ended at 14.6. Wave c lower ended at 14.38 which completed wave (y) of ((ii)).
The stock has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 14.74 and pullback in wave (ii) ended at 14.44. The stock resumed higher again in wave (iii). Up from wave (ii), wave i ended at 15.05 and pullback in wave ii ended at 14.61. Wave iii higher ended at 17.8. Expect wave iv to end soon, and stock to resume rally higher again in wave v to complete wave (iii). Near term, as far as pivot at 14.39 low stays intact, expect pullback to find buyers in 3, 7, 11 swing for more upside.
AAL trade ideas
$AAL yieaahhAmerican aliens
Laggard to United and Delta which had huge rallies.
NASDAQ:AAL needs to catchup, whether it is quick or slow, they will catchup. Being a laggard may create some explosiveness.
Monthly setup looks good on volume shelf, weekly and daily seem to be hitting some oversolf levels that could either make this explode or reset for a bit after the big rally.
Conservatively we can wait for a break of this parrallel down trend channel and retest.
$35 usd in 3 years? 1.5 might not be outrageous, idk just fly.
AAL ( American Airlines Group Inc. ) BUY TF H4 TP = 14.34On the H4 chart the trend started on Aug. 13. (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 14.34
This level, which I have outlined above, is certainly not a “finish” level. But it is the level that has the “highest percentage of hits on target.”
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
American Airlines AAL approaching an important level AAL is on a 30 minute chart. It had a big downtrend for the first week of the month and then
consolidated in a tight range and then a retracment trend up. Price has reached the top
of the high volume area of the volme profile. It is near to the standard Fibonacci retracement
zone tooled onto the chart. This zone from above rejected price on March 7 and 8.
AAL has had news of late about baggage problems but then came the news about an agreement
about expansion and remodeling at O'Hare in Chicago. I will watch AAL here, it make
break through the zone and then rise as much as 5%. However, it could be rejected and
5% into its support based out during the consolidation.
All Aboard!AAL has been getting hammered for a while. However, there looks to be light at the end of the tunnel. RSI has printed a classic bull div. This means price has made lower lows but RSI has made higher highs. So price will have a high probability of swinging up. Furthermore the MACD is crossing over bullish. The histogram is about to be bullish too. I think this is a good midterm swing
AAL Testing $9.50 Support with Rebound to $13 PossibleAmerican Airlines (AAL) is testing the $9.50 support level, with price consolidating around $10.05. There is a potential for a rebound from this zone as it coincides with prior support from early 2020. Volume is high, suggesting accumulation at these levels. The target of $13 aligns with previous resistance in late 2022. A stop at $9 protects from downside if the price breaks below support.
{
"direction": "Long",
"symbol": "AAL",
"interval": "1W",
"stop": 9.00,
"profit": 13.00,
"risk": 110.00,
"reward": 290.00,
"quantity": 100,
"score": 5
}
AAL American Airlines Group Options Ahead of EarningsIf you haven`t sold ALL before the previous earnings:
Now analyzing the options chain and the chart patterns of AAL American Airlines Group prior to the earnings report this week,
I would consider purchasing the 10.50usd strike price Puts with
an expiration date of 2024-7-26,
for a premium of approximately $0.41.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Is AAL a good swing trade ? - Let reviewLooking at the chart for AAL and based on its current pattern, the support levels are at $8.30. You can aim to take profit at $11.00 and then further at $14.00.
The company is currently experiencing a bumpy ride, but I believe this will be short-lived. At the mentioned levels, it's a very good opportunity for swing trades.(Profit % : Around 20%)
The RSI is at the bottom too, which indicates stock is gonna raise.
This graph is based on my observations. I encourage you to conduct your own analysis before investing or trading any amount in any stock.
Thank you
American Airlines (AAL) set to fly?Off the top of the 10AM scans this morning is a spike on NASDAQ:AAL with a good ATR Clearance of the bottom of the range.
Why I like this spike, at this position, is based on the Daily low from back in October where this spike also represents a rejection of the Volume Profile level from that low:
Good chance for a bottom pick!
AAL : Re-entered into the scripTook a position in the scrip once again, for about 0.625% of the net capital. Will consider adding on to the position if the price crashes down to the lower trend-line of the descending channel. If not, the high of the channel will be considered as a target for a move of about 49% from the current entry level.
📢📢📢 If my perspective changes or if I gather additional fundamental data that influences my views, I will provide updates accordingly.
Thank you for following along with this journey, and I remain committed to sharing insights and updates as my trading strategy evolves. As always, please feel free to reach out with any questions or comments.
Other posts related to this particular position and scrip, if any, will be attached underneath. Do check those out too.
Disclaimer: The analysis shared here is for informational purposes only and should not be considered as financial advice. Trading in all markets carries inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and assess your risk tolerance before making any investment decisions. The views expressed in this analysis are solely mine. It's important to note that I am not a SEBI registered analyst, so the analysis provided does not constitute formal investment advice under SEBI regulations.
American Airlines Downgrades Forecast and Loses CCOAmerican Airlines recently revised its financial forecast downward and announced that Chief Commercial Officer Vasu Raja will leave his position next month. This comes amid a challenging period for the airline, which has been underperforming compared to rivals Delta and United Airlines. The company now expects a sharper decline in unit revenues for Q2 and has lowered its earnings per share estimate to $1-$1.15. Raja’s departure follows recent strategic changes aimed at increasing direct bookings. Vice Chair Stephen Johnson will temporarily assume Raja’s duties. Following the news, American Airlines' stock fell over 8% in after-hours trading.
Key Points:
* Unit revenue expected to decline up to 6% in Q2 2024 (previously forecast at max 3% decline).
* Adjusted earnings per share for Q2 2024 lowered to $1.00-$1.15 (previously $1.15-$1.45).
* CCO Vasu Raja is to depart next month, following recent commercial strategy changes.
* Challenges include weaker international connectivity and pushback from corporate customers on new ticket distribution strategies.
* American Airlines stock dropped over 8% after the announcement.
Trading Idea:
* Short American Airlines (AAL) with a stop-loss at $16.41.
* Target prices (T.P.) for downside move: $10.89, $7.61, $4.06 (and further down to $2.89).