UAL is currently in B Wave formation. It's a triangle of which three waves have completed and the fourth is in progress. The fourth wave may go a little lower, maybe upto 37 (There is support at this level. Also observe the white trendline) before starting the fifth wave of the triangle to complete the triangle. The fifth wave may go up to 50.
After completion of all five waves of the triangle, the C Wave will begin, taking UAL to its lowest low.