AAL had traded sideways and back down to the SMA50 in the past 10 or so trading sessions. Upon reaching the SMA50, AAL has found some bullish support ending the week on a fairly bullish candle to bounce on the SMA50. If AAL can close above the 37.00 mark and knock out the resistance of the past couple of weeks, it may have some room to run (I've added some possible targets).
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
