Still bearish and getting more bearish due partially to the bullishness on my Twitter/Stocktwits timelines. Been adding to June puts ever since the wedge broke down and will double my position if/when $20.50 breaks. The market has given airlines every chance to rally but this chart is STILL bearish no matter how you cut it. Will cut the trade above $24.50.
From an overall trend standpoint, here is what I would need to see to be NOT bearish (not necessarily bullish, but maybe), in order of importance: 1) WEEKLY AND/OR MONTHLY RSI to close above 30; 2) Daily RSI to close above 60; 3) Daily close above 50 sma. Until all 3 of these occur, my personal opinion is that this could see sub $5 prices again.
From an overall trend standpoint, here is what I would need to see to be NOT bearish (not necessarily bullish, but maybe), in order of importance: 1) WEEKLY AND/OR MONTHLY RSI to close above 30; 2) Daily RSI to close above 60; 3) Daily close above 50 sma. Until all 3 of these occur, my personal opinion is that this could see sub $5 prices again.