Technical Pulse: American Airlines Group Inc January 9, 2020 410


The bullish sentiment for American Airlines (US: AAL) will continue and possibly have a short-term rally beyond 30.00 based on the technicals indicated.

  1. The stock has formed an ascending channel after a strong bearish downfall in August 2019.
  2. Bullish engulfing candle above 88.6% of the Fibonacci retracement level indicates a strong bullish sentiment forward.
  3. Potential double bottom.
  4. Based on the Fibonacci extension level of 26.66-29.81, the target price for the upside moves at 127.2% confluent strongly with the potential selling zone.

*Timeline of the technical call for AAL is between 1-2 weeks.

*Should price break below the support level of 26.66 by 3 periods, the whole ascending channel will be invalidated and there is a strong possibility of a downside move as the ascending triangle will be the bearish flag formation.



Stochastic Oscillator

Red line = Overbought Line

Green line = Oversold Line

Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!