This airline company found strong resistance zone at $48-$49. Bounced off it very agressively with gap down zone from $44 to $45 which is powerful sign that sellers keep control on price.
From fundamental point of view there is tension in Iraq - one of the biggest supplier of Oil in the worls. Break in supplies leads to higher prices and then higher costs for transport companies.
It pulled back to moving averages zone and now is curling down. You can put feeler here and on break down and close below $41.60 low.
Potential Target could be reversal point from April 28 at $38.
From fundamental point of view there is tension in Iraq - one of the biggest supplier of Oil in the worls. Break in supplies leads to higher prices and then higher costs for transport companies.
It pulled back to moving averages zone and now is curling down. You can put feeler here and on break down and close below $41.60 low.
Potential Target could be reversal point from April 28 at $38.