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AAL

AAL - Got Any More Of That Stimulus Yet?If you check back in with our previous charts, you'll see we have been accumulating AAL between $11.50-$14.00 for a while now. The airlines are still patiently waiting for additional aid from Congress which will be a huge move up for the whole sector. While there has been support on both sides for further stimulus, there's still certain disagreements that have led to an elongated standstill forcing airlines to cut costs where it can (furloughing employees, cutting flight paths, leaving cities, etc.). Will still say this, more people are definitely flying now than the previous months. This past weekend alone, TSA said it screened more than 3 million travelers at US airports (1,047,934 on just Sunday), which made it the busiest travel day since the pandemic started. While this is good news, these are numbers are still 57% below 2019 levels, but it's a start. TA: At the moment $AAL is hitting resistance at 3 major levels for us: Our down trendline in purple since October 2018, The daily 200EMA, and .618 Fib level. A break in these levels would bullish and we would look for the new support resistance after this. Updated Targets: 1. $17.20 2. $19.36 3. $22.00 Watching closely, and will come back with more updates. Give us a follow and shoot us a Like for more analysis updates. Cheers! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise
NASDAQ:AALLong
by MannyLo
1
AAL Still Choppy NASDAQ:AAL has been moving between 11.30 and 14.13 since earlier this Summer. Election time is truly the moment of truth. With a second stimulus bill in the works the main question that remains is when? Higher lows on the CMF shows that initiative for buyers is clearly there, comparatively to other dips it has formed a similar pattern. The earning beat is positive for AAL however furloughs have been hard on the workers and the company is clearly struggling. There is reason to believe that airlines will recover nicely with stimilus as we have seen recovery across the board with House elections more clear. Once stimulus hits there will likely be another big buyback likely followed by a dump. The area I would look to hold AAL until is around 19.38, I have enough reason to believe that area will be liquid for the stock and create a pullback. A strong push above this line (likely a result of an innovation of product or vaccine development) could lead to the line serving as a moderate support until we have more information. AAL is a strong buy above 12.05. These lines were drawn on historical price action, however it is important to note since the initial COVID-19 low and swing high the Fib levels have matched up nicely with these levels
NASDAQ:AAL
by crawfordpaul