airlines are getting hammered again however there is something special about CHR over AC. They do regional airflights meaning while they are still effected by covid they wont be as impacted as airlines with international flights like AC. AC is currently about 67% below its precovid levels while CHR is 70% which I think is unjustified. . more over, the Canadian government plans on subsidizing regional flights. while it benefits both AC still has more baggage
Technicals look alot better for CHR imo aswell for this upcoming week.
Currently its sitting on strong support.
On the 4 hr we can see a 4hr oversold bounce coming
On the 1 hr we have bullish divergence
indicating a good possibility of a double bottom.
2.5-2.6 is likely some heavy resistance and we have a downwards trendline so that would be a good spot to take some profit. I do think the orange trendline will be likely broken for a possible target of 4.
Technicals look alot better for CHR imo aswell for this upcoming week.
On the 4 hr we can see a 4hr oversold bounce coming
On the 1 hr we have bullish divergence
indicating a good possibility of a double bottom.
Comment:
Maybe it would be a good idea to hold off this idea. Montreal has just announced a high alert.