AAL is up on an earnings beat and is showing signs of resistance. There has been a lot of indecision the past several trading sessions and the momentum may be slowing/changing. I will be looking for AAL to either bounce of the EMA 50 or break out bearish on a cross.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
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As far as the open of today and the cross of the SMA 50, I am feeling pretty bearish on AAL for the short term. If we can break bearish through the gap from 12JUL, this has a lot of room to fall.
