Airbus is nicely settled in a rectangular scalping range (70-60) with narrow stop losses.
Break below should offer a cheaper price, break above bullish continuation.
Daily momentum (RSI) and volume (KO) is picking up but due to sideways market, this is not relevant yet unless the price breaks above 70.
The idea is to stand aside.
Prices are moving inside a channel. Wait to see if the support line will be broken or not.
If the level 62 EUR WILL BE BROKEN, the idea is to go short, otherwise (if the level of 165 will work as support) the idea is to go long.
Fundamental Analysis - just found a new equilibrium in the production
The monthly rates - 40 A320/A321, 6...
hmmm travel market and plane order are horrible could recovry in 1 or 2 years so take care with super recovry bias , best buy was 50 near support hits 4 times , french epidemiologist see 2nd wave corona in august so my vix curbe prediction is super cup to 100 ... could be airbus best buy price
Possible pullback on the red support zone that meets the 0.236 Fib level. (64.42).
There is also an upper wick which can tell us that the bears outperformed the bulls.
The market is on a momentum zone, so let's watch it the next week and get ready for a buy (or sell?) position.
Pretty bullish trend for the airline industry, but we've been rising pretty fast last week and a pullback would make sense. We have resistance here at 81ish.
However, I feel it's risky to short with all of the greed and optimism out there right now.
Generally, the stock price has been trending down since the COVID-19 crash. There has been some significant volatility that looks like it has day traders interested judging by the close of market volume. Today the price broke out the top of the 2 sigma channel which says "sell" to me. RSI and MACD show over bought which says sell to me for a short term...