AAL: How to trade an Ignition Bar?
Hello traders and investors! We’ll analyze AAL today! This stock is flying now, so, let’s see if there’s anything interesting to do here.
The volatility increased a lot, and the hourly chart looks very stretched, but if AAL is about to drop, a pullback to the 21 ema or the $ 16.47 would be expected. In fact, the $ 16.47 is a key point for the short-term, as it worked as a resistance twice, and now it is supposed to work as a support, according to the Principle of Polarity.
Now, let’s see the daily chart:
Maybe today’s candlestick is an Ignition Bar: A massive bar, with high volume. If that’s the case, we must wait for confirmation tomorrow, it AAL trades above today’s high again.
This could ignite the next bullish movement to the $ 22.80, but it must be triggered first. Also, we are not sure of how much of this volatility was caused by expectations regarding the Earnings, so, let’s be careful.
Meanwhile, let’s watch the key points mentioned in this analysis, and if you liked it, remember to support it, and follow me to keep in touch with my daily updates!
Thank you very much!
The volatility increased a lot, and the hourly chart looks very stretched, but if AAL is about to drop, a pullback to the 21 ema or the $ 16.47 would be expected. In fact, the $ 16.47 is a key point for the short-term, as it worked as a resistance twice, and now it is supposed to work as a support, according to the Principle of Polarity.
Now, let’s see the daily chart:
Maybe today’s candlestick is an Ignition Bar: A massive bar, with high volume. If that’s the case, we must wait for confirmation tomorrow, it AAL trades above today’s high again.
This could ignite the next bullish movement to the $ 22.80, but it must be triggered first. Also, we are not sure of how much of this volatility was caused by expectations regarding the Earnings, so, let’s be careful.
Meanwhile, let’s watch the key points mentioned in this analysis, and if you liked it, remember to support it, and follow me to keep in touch with my daily updates!
Thank you very much!
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