TSX:AC   AIR CANADA
Long Pros

Good Technical:
-50% Fib Pullback
-Bouncing of MA's
-Slight Higher-highs
-Overall impulse is up
-Strong bull dailys

Long Cons:
-COVID government restrictions
-Layoffs news
Trade closed: stop reached: Re-entry @ 61.8 Retrace and strong daily. Stop under low candle. Good R:R
Trade active: Fundamental error (News missed) :
Canadian Guv pushed for no flying thus hurting the airline industry for Canada.

Technical were good but fundamentals can change that.

The Trade above still valid @ 19.69 = 61.8 the bounce after that candle was a good entry.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.