Airlines are active this week, breaking out with many travel and leisure stocks. We’ll look for more follow-through today, as many of the stocks in the group gap up this morning.
Airlines – Top 5 Stocks
UAL and SAVE are the top two airline stocks ranked by performance.
UAL (+1.50 Pre-market) moved quickly out of the Opening Range, breaking above 31.00 quickly. Price action climbed away from VWAP, tracing out an ABCD_Pattern into the closing bell.
Price action is moving into the Kirby, an area of little supply. Noted the horizontal line, where the price above accelerated lower as investors and traders “stepped away from the bid.” As a result of this lack of supply, price action has less resistance to regaining lost ground.
Bollinger Bands are expanding, top and bottom, which suggests a fast move as volatility increases. RSI is rising, with room to run. MACD is above its signal line and bullish.
Volume has been trading well above average for more than a week. That’s institutions accumulating shares for the return trip.
Look for a repeat in the airlines today.
Join us today in the trading room for our LIVESTREAM broadcast
during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Want to become a member? Check details here:
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.