Price broke down down back in mid July and the up trendline supported well. It then retraced to neckline and followed by a small sell off before stabilizing at current price.
It seems like price is going to be in consolidation for awhile. Depending on the price action of the consolidation, that will give us a hint on its next move.
As price is currently in the middle of a long pennant pattern, I won't be buying or selling yet.
However, the other airlines are showing signs of slowing down in the selling pressure. BA seems to be the stronger stock. Therefore, my bias is towards buying should the next few days shows weakness in selling pressure as well.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
It seems like price is going to be in consolidation for awhile. Depending on the price action of the consolidation, that will give us a hint on its next move.
As price is currently in the middle of a long pennant pattern, I won't be buying or selling yet.
However, the other airlines are showing signs of slowing down in the selling pressure. BA seems to be the stronger stock. Therefore, my bias is towards buying should the next few days shows weakness in selling pressure as well.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.