Buy EasyJet on multidiagonal setup A long trade appears to be setting up here with a confluence on the multidiagonals around the 11th January, so expect a big move near or around then.
ESYJY trade ideas
easyJet eyes 50-DMA supportRepeated failure around 1080 area if followed by a daily close below 50-DMA of 1038 would confirm the bearish MACD crossover and open doors for a sell-off to 200-DMA level of 987.60.
Only a daily close above 1100 would open doors for a fresh rally to 200-DMA seen today at 1247.
Easyjet - Expect dip demand as long as prices stay above 973 The weekly chart clearly shows a bullish price-RSI divergence. Hence, the dip demand is likely so long as the prices stay above the July low of 973.
A minor retreat cannot be ruled out as the daily indicators show bullish exhaustion.
EZJ BuyLooking for a potential 20-25% trade here. Weekly RSI & MACD divergence to price. 123 low on daily timeframe. Stops just below recent low.
SELL SETUPWe have a rising wedge pattern on hourly timeframe,
It would be a good idea to sell with SL above recent highs and target at magneta line.
Good luck
UK STOCK EASYJEY, Short 1HPrice made big move on D1 chart, which remove more that 2 last valleys, so I wait on correction and then waiting on signal to sell on H1 chart. Showed on my chart TP is for me full potential move of price and I will not looking more, maybe will quit earlier, but for sure not than R/R 1:1
EasyJet – Fake breakout?Daily chart pattern
Bullish symmetrical triangle breakout
Overbought money flow index for the first time after March 2015
Stuck at 50-DMA level of 1125.24
The daily chart suggests the bullish break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily RSI, which is well short of overbought territory.
Overall, we are likely to see range bound action with a downside bias.
Bullish move would gather pace after prices see a day end close above 1177 (July 14 high).
Easy Jet – attempting bullish break from symmetrical triangleEasy Jet shares are top performers in FTSE100 index.
Shares are trading 2.13% higher on the day around 1100 levels. Prices have set a intraday high-low of 1127 and 1069 levels respectively.
Daily chart pattern – Symmetrical Triangle
A bullish day end close today would open doors for a rise to 1177 (July 14 high) and add credence to the view that a mid-term bottom is in place around 973 (July 26 low).
Daily RSI and Money Flow Index are in favor of a bullish daily close.
Bullish invalidation is seen only if prices see a day end close below 1044 (previous day’s low).
Intraday resistance & trendline breakout on EZJI have been long since around 1000 - think RSI needs to cool off a touch before an assault on 1175, will add on any weakness. Notional value of my trade is around £20k - £20ppp
Easy Jet - Should we trust the rally?Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today.
The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an addition to the bearish news.
On the technical front, the news is not good either-
The volumes have stayed below 20-day average through the current technical recovery.
The money flow index also suggests the corrective rally is more due to profit taking/unwinding of shorts.
Hence, the current rally may not be sustained. Moreover, gains have come after last Thursday’s BOE stimulus, which have triggered broad based gains. After the effect of stimulus wanes off the stock may resume the downtrend.
On the higher side, we keep an eye on 1177 levels, while fresh sell-off is seen once the recent low of 973 is breached.
Easy Jet - Risk of a sharp correctionWith oil prices down and looking bearish, airliners may see a much needed corrective rally.
Easy Jet daily chart shows, rising bottoms on the hourly chart. As long as June 27 low of 990.50 is not breached on day end closing basis, the risk of a snap back to 1100 levels is high.
