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Wednesday, July 01, 2009 

Airline Stocks to watch on Thursday - Continental Airlines and UAL Corporation

Chart courtesy of www.stockcharts.com ( click to enlarge )

UAUA - The technical daily chart above shows that it is still to early to say that the downtrend has ended. The stock seems to have a remarkable support around the $3 mark, however it's better to stay at the sideline. Only a close above $3.60 would trigger some positive sentiment.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CAL had a good move today. The stock broke out the falling wedge pattern to the upside. This is a trend reversal pattern suggesting a halt in the bearish trend . The stock could touch an upside target of 10.42 in the short term. The technical daily chart shows the stock is now back to uptrend and with K line above D line we may see more upside. Existing holders could remain invested. CAL will move quickly, so watch the stock closely on Thursday.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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