Market moves in cycles, when a trend reverses course it needs time and often has some obvious signs.
In this case we are seeing a long term down trendline broken, Ascending Triangle breakout, Potential Rounding Bottom.
Despite horrible fundamentals, vaccine coming in a month or two will definitely be a strong catalyst for airline companies.
Volume is important, when huge volume kicks in on breakouts, I'd increase my position size and hold it until it stops trending.
###NOT FINANCIAL ADVICE###
In this case we are seeing a long term down trendline broken, Ascending Triangle breakout, Potential Rounding Bottom.
Despite horrible fundamentals, vaccine coming in a month or two will definitely be a strong catalyst for airline companies.
Volume is important, when huge volume kicks in on breakouts, I'd increase my position size and hold it until it stops trending.
###NOT FINANCIAL ADVICE###
YouTube goo.gl/BkRuQL
Twitter twitter.com/vilasignal
Twitter twitter.com/vilasignal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
YouTube goo.gl/BkRuQL
Twitter twitter.com/vilasignal
Twitter twitter.com/vilasignal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.