AAL trade ideas
AAL: New Buy Opportunity AgainPrice is still inside the trading range
Those who have been following me for some time now, know that AAL is one of my favorite stocks, as we have made decent profits only from this one.
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AAL Still Choppy NASDAQ:AAL has been moving between 11.30 and 14.13 since earlier this Summer. Election time is truly the moment of truth. With a second stimulus bill in the works the main question that remains is when? Higher lows on the CMF shows that initiative for buyers is clearly there, comparatively to other dips it has formed a similar pattern. The earning beat is positive for AAL however furloughs have been hard on the workers and the company is clearly struggling. There is reason to believe that airlines will recover nicely with stimilus as we have seen recovery across the board with House elections more clear. Once stimulus hits there will likely be another big buyback likely followed by a dump. The area I would look to hold AAL until is around 19.38, I have enough reason to believe that area will be liquid for the stock and create a pullback. A strong push above this line (likely a result of an innovation of product or vaccine development) could lead to the line serving as a moderate support until we have more information. AAL is a strong buy above 12.05. These lines were drawn on historical price action, however it is important to note since the initial COVID-19 low and swing high the Fib levels have matched up nicely with these levels
AAL possible Falling WedgeLooks like we could run if there is a break and some good news. Even with bankruptcy in the air the airlines long term are going to rally.
AAL bouncing off key support at $10.93 areaNASDAQ:AAL looking for a move back to $13 after bouncing off support. MACD turning bullish. RSI in good range.
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$AAL American Airlines Short term targets
Potential day trade In AAL while the Bulls remain in charge.
resistance levels | targets
200ma on daily
Yearly candle resistance
0.382 Fibonacci dead cat bounce level
Wyckoff MethodToo much positivity in the market currently after Trump has botched the Coronavirus response. We do have a new president who isn't even going to be sitting in the White House until late January. My overall opinion is that this is too much positivity too quickly due to the fact that Coronavirus is still out there with a possible preventative measure that will have good/bad news LATE November along with rising cases (in some countries exponentially growing)
This vaccine is not a cure but a way to prevent the masses from getting it and they will only be able to distribute 50million globally. SO the current 50 million that have it will not just disappear. Currently, there have been talks of more shutdowns and if that's not actually happening we could see cases get much worse prior to the vaccine distribution.
AAL: Sideways TradingSideways Trading
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AAL - Elliottwave analysis - Sell on bounce - swing trade AAL - It is in Y wave down after X wave completed in triangle. It has also broken down the triangle and the up move thereafter was corrective. There is a chance of extending B wave correction higher, but it is under performing the SPX, which suggest further down side will come. Sell it in parts between current level up to 12.30 zone with stop level above 13.29 for target below 10 as a swing set up.
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AAL - Elliottwave analysis - Sell on bounce - swing tradeAAL - It is in WXY correction and Y is in progress after triangle X wave finished earlier. The drop seems wave A of Y down and B wave up expected corrective, which is good opportunity to sell it down for target below 9 value. The stop level for the trade is 13.30 and sell entry should be between 11.70-12.35 zone.
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$AAL posting better than expected Earnings$AAL posting better than expected earnings with PEAD projecting a neutral outlook for the stock price, price is currently trading below the PEAD cone.
AAL on watchAAL has provided a couple loading zones during this pandemic. Recently price target cut, rating to strong sell and poor performance might let it reach lower lows (at loading trucks). Consider watching this strong support area for a short bounce swing play. Only enter if reversal is confirmed. Thank you.
Distribution?This looks to me as a distribution and now we are ready to pull the rug, what do you think?
AMERICAN AIRLINES video top-down AnalysisHello everyone, here is the top-down analysis for AAL, feel free to request any pair/instrument or ask any questions in the comment section below.
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