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oerboom
May 20, 2021 11:40 PM

IAG / ICAGY dip upcoming? 

International Consolidated Airlines Group SAOTC

Description

ICAGY has finally broken under the ascending support line whose anchor point (a historical minimum) formed in Oct 2020. Price action in the past 6 weeks has traced out a bearish triangle; if the pattern is confirmed, we would expect a >20% drop down to the $4.00 area. High buyer interest at those prices would almost certainly mean a rejection back to the $5+ range, barring secondary/complicating effects introduced by a dividend announcement.
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