AAL trade ideas
AAL Finish head and shoulder then shortShort after the possible head and shoulder. First target 16 second target 15.50
AAL Head and ShouldersSecond Head and shoulders forming. this one looks more succinct .
If falls under the shoulder line then its a short to 16 and 15.50 respectively.
Wait for confirmation!
long just not yet.right now I am long on AAL but not until i see a retracement back to that purple price area. We are currently overbought in almost all stock tickers so we might see a big pull back in all markets. but it will be short lived. this is healthy in the market. we also see a golden cross occurring so this indicates a bullish run but as i always say nothing is certain until we get confirmation in the next few days. let me know what you think.
this is what i am thinking about AALI am only with a year trading skills. if i am wrong, please correct me, i am very happy to learn. Thank you
American Airlines - Accumulation? Here's a quick timeline of what's happened with AAL these past few months:
21 Feb - AAL begins its almost 68% decline due to the COVID pandemic from $28.51 to $9.11
4 June - AAL sees a significant price increase possibly due to their decision to increase domestic flying for the summer, and the reopening of Admirals Clubs and increased flexibility. Whatever it was, it sent the stock up by 41%
23 June - AAL stock falls below the 3 month support which then becomes a strong level of resistance at $14
Jul - 9 Nov - Roughly 7 attempts were made to break through the June 3rd resistance
23 Nov - AAL finally breaks through the $14 resistance line possibly helped by some AAL initiatives (AA and Alaska Air Elite members reciprocity, International change fee elimination, Boeing MAX 737 return to service, Black Friday deals. Pick one)
This is out of sequence, but on 28 Oct a new ascending channel started to form within a larger channel that began on 14 May 2020 (visible in 4HR Interval Chart)
- The closing price of AAL from today sits exactly where the bottom of the upper channel begins.
- A break through the Feb resistance at $20.42 will bring the stock back to its post-COVID ATH
Being that they fall under T&L, there are a lot of external factors that can affect the price direction of this stock. A few non-financial related reasons worth mentioning are:
- Current infection rates of COVID-19 within the US and globally
- Availability and Efficacy of COVID vaccine
- Government-Imposed restrictions
- Customers level of comfort resuming travel
- Quarantine regulations
But with most indicators and oscillators trending up, I'm hopeful that they recover sooner rather than later.
This is obviously just my 2 cents. Let me reiterate that this is by no way to be construed as financial advice. I do this to help me look back and see any errors in judgement I've made. If you have constructive advice to give, feel free to let me know.
AAL - American Airlines StockAmerican Airline - Hold for now. TOO RISKY
There might be an opportunity to go long, only if the Support level of 17.5 USD will be broken.
AAL Trade IdeaAAL approached 17 resistance and got rejected. May push for a move toward 20 if we can get a nice break over 17. Would keep in mind that we may go down back to 14.50 with 17 rejection. Final note that intraday TF does show wedge pattern as well.
AAL Long Should come back to test the 15.66 support which I think will hold before it goes for the 20's.
AAL - Got Any More Of That Stimulus Yet?If you check back in with our previous charts, you'll see we have been accumulating AAL between $11.50-$14.00 for a while now. The airlines are still patiently waiting for additional aid from Congress which will be a huge move up for the whole sector. While there has been support on both sides for further stimulus, there's still certain disagreements that have led to an elongated standstill forcing airlines to cut costs where it can (furloughing employees, cutting flight paths, leaving cities, etc.). Will still say this, more people are definitely flying now than the previous months. This past weekend alone, TSA said it screened more than 3 million travelers at US airports (1,047,934 on just Sunday), which made it the busiest travel day since the pandemic started. While this is good news, these are numbers are still 57% below 2019 levels, but it's a start.
TA:
At the moment $AAL is hitting resistance at 3 major levels for us: Our down trendline in purple since October 2018, The daily 200EMA, and .618 Fib level. A break in these levels would bullish and we would look for the new support resistance after this.
Updated Targets:
1. $17.20
2. $19.36
3. $22.00
Watching closely, and will come back with more updates.
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$AAL American Airlines Fibonacci Trade Setup
Potential entry above $16.40
Target price to Fibs and pivot point $18.40
