Airline Stocks $AAL and $DAL
The U.S. news is constantly releasing reports about Delta and American Airline stocks, so this week we are going to be looking at these two airlines from a purely technical standpoint. Overall for both companies it looks like the stock prices have more potential to the downside than the upside.
On American Airline Stocks – AAL
price has found supply at the 2015 supply zone from 48.68 up to $56. Price has tested that area a few time now and has yet to break it. It looks like it will stand firm and we will likely see price sliding down to $36 and the weekly and daily demand zone at $40.09 down to $39.21 for sure this week if not low into the $36. Today price opened up with a big Gap to the downside and I’m expecting that Gap to stay strong and price to continue to drop from there. There’s a little daily demand at $41.00 but I think price should be able to slice through that with no problem. Bottom line, the Trend is down and we are looking for to continue on this coming week. Expect supply or resistance levels to hold while demand/support areas to break.
On Delta Airline Stocks – DAL
It much like American but the only difference is the actual value of the stock itself. The big gap on Delta today caused price to open up below $46 and we will likely see the same thing continue for that stock as well. Price action is slightly different on the two markets but we will likely see a continuation of to the downside for the foreseeable future due to price action, supply/demand, and the bad news.
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