AAL INVERTED HEAD AND SHOULDER ON PLAY WITH A MINOR PULLBACK

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American Airlines Group, Inc. (NASDAQ:AAL)

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NASDAQ:AAL American Airlines Group, Inc.

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AAL did a nice neckline breakout after the inverted head and shoulder formation. We are expecting a minor pullback towards the highlighted zone to retest and accumulate more buying pressure. If the pullback range holds the sell-off above the level which can support a nice bullish reversal, then we can expect the trend to continue upside down and complete the structure.

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The price of AAL can retrace back close to 38% on the Fibonacci retracement.

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