In my work, one of the most beautiful and exciting, but also one of the most difficult, there often come times when you have to slightly change your expectations, based on things the graph is telling us.
The last two weeks of American Airlines have been decidedly disappointing, both from a graphic and volumetric point of view.
If you look at the volumes of the day, you can see both a series of “negative days” and a progressive lowering of daily trading, a symptom of a certain “weariness” of investors.
Indeed, AAL has grown not a little since the end of 2020, also because the only “push” in the price is due to the belief that the shares could return to the pre-covid price, certainly not from the goodness of the company.
We are in a situation similar to what we saw between January and February 21, there was a good recovery both in terms of graphics and volumes.
The coming week will mark AAL’s fate in my wallet.
I can expect a further retracement to the support trendline, but I will necessarily need a recovery accompanied by a more or less considerable increase in volumes.
Update 1 target (where I will take home some of the profits): $ 25.98.
2 target if the trend is confirmed by the break of the $ 26 level, where I will definitely close the position is at $ 30.
Have a nice weekend,
Save & Invest
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.