I think AAL is likely to go down the price is just below the long term downtrend channel and it is recently broke its 30 minutes wedge channel quite strongly. short term target is 34.60 but it's still get a lot of potential to go down further I think. stop loss is 36.60.
Earnings winner. Dividend payer. Probability that this will go higher is positive based on previous chart data. Stock is trading in the lower 1/4 of entire hx of price action going back to year 2016.
Also double bottom formation of late. Gap up is bullish. Exponential moving average crossovers = bullish.
R/R = 1.7.
Loose stop = 29.64
Target = $38
$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.