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AIR CANADAAIR CANADAAIR CANADA

AIR CANADA

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AC trade ideas

Air Canada - Take Profit Zone?RSI just reached overbought territory on the weekly. Some cooldown can be expected, how low can it dip though really? AC is part of the troubled AirLine sector that recently has shared some decently bullish news, at least AC itself has better financials than some other airlines and is likely one that is going to be around for a long time. Currently has seen a nice upswing in price with tremendous growth in volume. Different support levels indicated for possible re-entries. Could see $36+ later this year, time to set up!
TSX:AC
by thiluxan_s
1
AC (Request + just looking)I have gotten a bit tired of AC because it goes for long periods of time not moving, then suddenly does $12 in a month lol It IS a good LONG term hold. AC is attractive at any price if your target is 1-3 year hold. If I were to buy into AC I would accumulate Call options that expire a year out (which means I will be in the red but I would cost avg over 3-4 times) and then benefit from a move like the one it did in December. That would be my strategy. Otherwise, Buy the shares and just hold, again waiting for a move. There is a gap fill which may be met. But it is sitting on a lot of support. Could go either way. I would not buy it into a swing trade, you would have to be willing to be very patient and cost avg. or accumulate.
TSX:AC
by tsx_trader
4
AC LONGDon't know much about the news and it seems to me that the news will be already included in the ticker price already so I can only go by what I see... 1) The daily bollinger bands, or the moving averages if u will, the 20 (middle bollinger) and the 12 (blue line) have crossed below which is very bullish and that is when the jump happened to the upper bollinger with a pullback on Friday which is normal. Overall, bullish move. 2) The RSI has been creeping steadily higher and is in convergence so no reason to think a top was hit and the next resistance will be 60 RSI on the daily. 3) Bull Flag, with the 23 dollar level holding quite nicely which is a fib retracement of 50%, which is a bullish move in itself. 4) The overall fundamental analysis for AC overall for 2021 is Bullish and this is a discount i do suspect. 5) People worried about layoffs need look at Canopy Growth which has had a surge after the initial announcement of layoffs in Canada. 6) If this was wave one completed and wave 2 has just consolidated then wave 3 target is on the board with 34 dollars being close to 100% which seems perfectly reasonable if you ask me... Sincerely, Justin
TSX:ACLong
by Ove888
1
AC Volume/Strength Analysis1. - Dip into previously drawn out liquidity pool. - High volume; double the 20 day average volume. 2. -Dip onto expected bottom. -Low volume on the bottom; less than 20 day average. 3. -On initial bottom the RSI was oversold. -On next low testing the support the RSI is trending upwards showing a divergence. Looking forward: -Price has been sitting around a short term resistance showing strength bouncing off the bottom. -Another touch of support on even lower volume could be a great sign to begin an uptrend shortly. -Also watching for a high volume breakout pulling back to previous resistance and establishing uptrend.
TSX:ACLong
by koples
1