The price action of RYA has been range-trading for quite a while now, mostly being concentrated between the major resistance level at 17.100 and the major support at 15.100.
The massive Marabozu candle that is forming today could potentially indicate the termination of the sell-off. Moreover, Ryanair's stock may be due for another attempt at breaking the range...
I'm seeing an inverse head and shoulders on the hourly, which lines up as the right shoulder of an inverse head and shoulders on the daily. The hourly oscillators are showing bullish divergence on both the RSI and MACD.
It seems like the price is trading on sentiment right now.
The Positives :
There is talk that the curve has been suppressed.
The worst in Spain and Italy seem to be over.
Austria is looking to relax the lockdown.
The Fog :
However, we miss fundamental news. That, if you know more about please let me know.
How soon will the airline be allowed to...
On 1 hour the chart is showing H&S pattern with divergence (see in the comments).
Daily chart reached 50% fib level and is also overbought after great earnings.
Great risk-reward. Best to wait for London open tomorrow to trade as we are near the close of the session.
As promised, I would like to start to share some mid and long-term trading/investments ideas. How long they actually last, depends on how fastly they reach their targets (usually targets are arrowheads).
If I start to share some ideas from the stock markets then they are not "set and forget", every idea has a reasonable target.
The first stock has been on my...
Descending Triangles, Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the...