AAL ready for liftoff

If we take a look at the weekly chart, a textbook cup and handle has formed. We had the fall last March with a run back up to $20 to mark out break out. Over the course of the year it has dropped and consolidated on low volume and once again ran up to $20 on increased volume.

This formed our “Cup” and our handle has formed on a healthy dip with decreasing volume.

This week marks the breakout of that year long formation and is an exceptional buy.

Looking past the technical analysis, one could also point out that the vaccine news is looking great for this industry. That prospect could boost the outlook for airlines to prices from over a year ago.

This is also a safe enough industry that is essential to the world’s economy, and as we know our government will never let them fail.

Big big thumbs up on this.