US Stock In Play: $MESA (Mesa Air Group Inc)

NASDAQ:MESA   Mesa Air Group, Inc
$MESA traded with a substantial day gain of +9.01%, closing at a 52 weeks high of $14.16 this morning. Share price of $MESA have doubled from $6.80 within a short span of four trading weeks, upon breaking out of a Symmetrical Triangle chart pattern with flattening volume and implied volatility over the course of two months. This price action behavior also confluence with a whipsaw around its 20DMA, implying indecisive drift in consolidated price action.

The next immediate resistance for $MESA to challenge is at $16, which was last traded in November 2018.

$MESA operates as the holding company for Mesa Airlines, Inc. that provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. As of September 30, 2020, it operated a fleet of 146 aircraft with approximately 373 daily departures to 102 cities in the United States and Mexico.


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