AAL Non-MovementDirectional plays within some of the airline stocks have now become obsolete as volatility has dropped significantly for the sector. The last three earnings reports have all been in at a loss with final reports being slight better than estimated. The market is expecting the worst right now which is in turn affecting the stocks ability to rise.
1 standard deviation range set to monitor price range for Iron Condor strategies.
A1G trade ideas
AAL technical analysis - big move coming in next few weeksAmerican Airlines is consolidating atm in a triangle and bounce back perfectly on gann fan 1/8th support line. Target for this breakout will be $17.87 target that lines up perfectly with 200 MA / 161,8% fib level and 1/4th gann fan level.
On top of it all we have fundamentally speaking big news coming too that will be the catalyst for this breakout - AAL got a confirmation from Mark Meadows to receive the bailout money which will be announced in the upcoming few weeks.
Risk to reward is very good too since you can put a stop just below the 1/8th gann support and the momentum on fast stochastics is making higher lower consistently too.