oerboom

Turning point for UAL?

Long
NASDAQ:UAL   United Airlines Holdings, Inc
Price action ending 19AUG presents an interesting scenario for NASDAQ:UAL . First, there is clear price divergence with RSI , a bullish indication. Today's candle suggests a (crucial) third touch on a dynamic support level in the 43.00 range, suggestive of a possible upward bounce. Finally, today's candle also presents a double bottom against this rising support level , again a bullish indication.

My positions in NASDAQ:UAL have been hammered in recent months, but I'm guessing that eventually the momentum will change direction. Today's candle simply presents one scenario for that change.