Support 1: 30.49 Resistance 1: 33.90
Support 2: 27.05
American Airline’s bearish fall has come to a halt when prices broke out of the rising wedge since the start of June 2019. With that, the stock’s bullish trajectory is confirmed. In the recent periods, the stock has formed into an ascending triangle formation and the next ideal move is for the stock to retrace back to 33.00 Psychological area and rebound after that.
The short term 22 and 50 SMA have crosses upward six periods ago and prices have been trying to break the 200SMA. Once price breaks above the 200SMA, we can be assured that the stock will be set for a greater rally ahead.
Red dotted line = 200 periods moving average
Blue dotted line = 50 periods moving average
Green dotted line = 200 periods moving average