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
@tn5000, no movements yet, recent announcements though apparently negative had minimal impact...experts say airlines won't recover until 2023, i still have the opinion more downside may still be to come. 2020 is far from over. my golden buy zone for a multi-year long position would be below $10 but questionable whether we'll see that again, I will wait to see what the rest of the year holds first but there is also potential to profit off of volatility between now and then with highs in the low 20s and lows as below 15.