AAL is currently in a downward trend, but I am thinking that there could be a reversal of the stock very soon. It seems like the recent down move could be to fill the two gaps from earlier in the month, so once that is done, the stock can move back up. There is a support level at 14.6 that has been retested several times: first on March 9th and during April, and now again in June. This combined with the recent news that Covid restrictions are being eased in a lot of states is positive news that could fuel a reversal in the stock price. The RSI indicator approaching 30 is another sign that AAL could see a bounce in the coming days.
I would love to hear feedback on my idea to improve future analysis and I am open to discussion about my idea or hear any constructive criticism.
I would love to hear feedback on my idea to improve future analysis and I am open to discussion about my idea or hear any constructive criticism.
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