American Airlines surrounded with negative pressures - Analysis - 06-06-2022

Economies.com
2022-06-06 12:03PM UTC

American Airlines' stock (AAL) tumbled 7.1% in the last session, or 1.24 points, settling at 16.22, with trading volumes surpassing 46.2 million shares, above 10-day averages of 32.4 million shares, after the airliner raised earnings growth forecasts while cutting down capacity estimates. 

 

Technically, the stock is suffering negative pressure from the 50-day SMA, with negative signals from the RSI after reaching overbought levels, while trading alongside the downward correctional short-term trend line. 

 

Therefore we expect more losses for the stock, targeting the support of 12.77, provided the resistance of 18.30 holds on.

 

Expected trend for today: Bearish 

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