$AAL American Airlines - price/volume divergence post earnings on this latest run from ~$32 to ~$38 on declining volume. Near term anticipating another leg down within bearish long term channel. Targeting $28-$30 area by January.
Also of note, we saw some unusual bearish put options activity today with about 11k $39 strike December puts being traded for around ...
For short term, wait for the price to form a continuation pattern on lower time frame and watch strong price action for sell.
As a longer term investment, wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Don't take a trade if you don't see clearly when big guys are in.
NASDAQ:AAL the 28 day ascending triangle is not a very strong trend that i will usually trade. There's a strong resistance at $40.47, if we manage to turn this resistance into support, I target at $44.13.
For safer entry, a break with confirmation above $40.47 will give a better risk reward.
A break below SL will nullify this bullish take.