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porretta.matt
May 9, 2020 4:10 PM

Forming a picture perfect descending triangle Short

American Airlines Group, Inc.NASDAQ

Description

Hey guys,

AAL is forming a perfect descending triangle. I would imagine this will run up and retest the trend line above one more time. Whatever the case, I would be ready to go long or short based on a breakout. Most of the time these break out downward.. but sometimes they pop up. 75% chance of a break down, 25% chance of a break up. It all depends on how many buyers come in at the bottom support line. Happy Trading!

- Matt
Comments
Jamie09
Thanks Matt Excellent points will be sure to watch for this trend forming.....
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