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AIR CANADAAIR CANADAAIR CANADA

AIR CANADA

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AC trade ideas

AC long rotationAs AC was trading in triangle formation you see a nice pull back day on the 27th August, then a nice 'spring day' on the 28th. Both days have consistent volume as well. Futures are up and things are looking good for this week. I expect a continued rotation for AC and CHR on the TSX. At least for now. The COVID cases in the states are coming more under control as the days go by. Next resistance in the 18.50 area. If it breaks through, all bets are off, it already reached about 23 in June. Trade at your own risk!
TSX:ACLong
by tsx_trader
AC Long Options tradeHey folks I purchased 5 AC Calls Expiring in January of 2021 at a strike price of $20. I am bullish on AC for that time period. The share price had already reached $20 in June! its not unspeakable that it can reach $20 again or even hover well above it prior to January 2021. In terms of technical, AC has constantly bounced back to the upside when it reached the high $15 mark. It recently in the last 2 weeks bounced of the 15.60 and 15.99 marks. This is giving me confidence that there is good support. If it falls below the support level, I will re-consider my trade. Otherwise, I have confidence in it. All that needs to happen between now and January is one or a few good things in short order, the share price can soar. I am betting that between now and January, the CDN and US gov will allow travel between those two conuntrys. Once that happens, there will be left off. I dont see Canada keeping the border closed that far out. The COVID cases in the US is declining and this is true here in Canada as well. Some other good news such as re-opening, more travel abroad, etc will get lift off. Also, anytime now, if there is a bubble in the tech or gold stocks (when people get sober), money will turn into other areas of the economy which includes airlines and aerospace. Buying the Call options at such time that the share price is declining towords its support gives you a better bargain on the call options. You need to have patience for this trade. Good luck folks!
TSX:ACLong
by tsx_trader
Air Canada lift off?Air Canada is one of the more undervalued stock right now, due to its uncertainty. Currently facing multiple MAs as resistance, but has bounced from the lower wedge support. Price has made higher lows bouncing from the monthly support as outlined in red box. Upside is to the upper boundary, to around $22.5 If travel restrictions loosens, and or COVID-19 vaccine is confirmed. If COVID-19 is extinguished and traveller confidence goes back up, Air Canada can easily lift off to its 40-50$ range. AC recently announced a relaunch of its Aeroplan rewards program, which provides more value to the company and to customers - which resulted in the stock price gaining some momentum. It is set to start Nov 8th, 2020. It has a lot of capital to burn through and can weather the fight relatively easier than it had to in the past. Personally entered around $15.5, looking to re-evaluate position if price revisits it.
TSX:ACLong
by avedj94
Air Canada is set for another volatile weekHello Traders, I am back for another AC technical analysis. Looking at the 4 hour chart, we can see that AC has been in down-trend since June 20th high, as the price has been rejected multiple times at 4-hourly 20MA. However, few bullish signals have emerged: 1) Bullish divergence in price and MACD 2) $15.90 has been tested multiple times and bears are failing to break this support If AC breaks orange trend line with convincing volume, we can expect the price to hit $17.50 in short term. Stop loss: $15.85 Happy trading.
TSX:AC
by x45lu
3
AC:TSX First Chart (ROOKIE)Hello i am new to stock market and trying to learn. So i made this up for the first time and would love some feed back and advice. Im guessing with my drawing we are about to hit the support and have a bounce back up. So if this goes over the 50ma line we have good chance of bouncing back up? I panic bought at 21.40 because the price went up to 23.5 but started to drop the next day. Now looking to sell at or just under 23. Think this is a good plan and target? I am a long hold but am trying to make some short profits along the way and get more into swing trading. Thanks for taking time to see my post. Lazy
TSX:AC
by BigMan89
3
June gains are gone...more downside?All the gain we saw in the powerful rise in early June is now gone. AC has been volatile in post-COVID trading & hasn't recovered much compared to markets. While shutdowns worldwide & low tourism have generally trashed the industry, AC is still operating their aircraft domestically and increasingly abroad, mitigating some of the heavy AOG costs that all carriers are suffering from right now. Air Canada isn't going anywhere but it might take a while for airlines in general to recover - we may see more downside (red arrow) if markets in general suffer from wave 2/re-shutdown fears, or potentially a smaller rally sooner rather than later. Price movements are still big enough for swing trading & AC has shown some small rally patterns (green) with V-shaped dips (blue). Watch for a break of the local RSI support, MACD divergence in either direction, or an increase in volume to point towards the next move. In any case I expect a local low within the first week or so of July and an eventual long-term recovery that is definitely worth buying into even now. For educational purposes only, not investment advice
TSX:AC
by gaf56
2
Accumulation stage - Swing tradeHey AC is entering a triangle shaped channel and has healthy buying pressure. Likely to break upwards. Since mid May, it has recorded higher highs and higher lows. There has been lots of bad news this weekend (Covid cases up in the US) and yet there is healthy buying pressure. On the 22nd, there was news from Trudeau that travel restrictions will not be eased in the present time, and this news did not have a negative impact on the trading day. I believe this news came out at about 12pm. Trudeau will review restrictions agains in July. This is a good time to add to your portfolio or enter for a wing trade. It is likely to have good returns should travel restrictions get eased up in July, with low risk to the downturn in the interim. Its also near a dip in the present trading channel. Confirmation for the upside to follow tomorrow. Entry 19.00 Exit 23.00 hold till made to late July anticipated. I bought a 3rd of my allotted shares for AC. Make sure to keep some cash in order to price average should the value tumble a little.
TSX:ACLong
by tsx_trader
1