$DAL
Added 2024-05-29 09:26:20 +0000 UTCAirlines struggled in the AH yesterday and into the PM today as $AAL announced:
'American Airlines slashed its guidance for the current second quarter and said its chief commercial officer, Vasu Raja, was stepping down after two years in the post. The carrier said it expects adjusted earnings in the period of about $1 to $1.15 a share, below its forecast made in late April for adjusted profit of $1.15 to $1.45. American also said it expects unit revenue to fall 5% to 6% from a year earlier after previously estimating a decline of 1% to 3%. The company didn't provide a reason for the reduced guidance. The stock fell 8.3%. Other airline stocks traded lower. Delta Air Lines declined 2.6% and United Airlines fell 1.6%.'
$AAL has continued to lag behind $DAL and $UAL and their share price had not taken off yet in the same way, which was something we were monitoring for an opportunity but we can see now why the share price was still staying suppressed.
I don't believe $DAL and $UAL have the same issues as $AAL tho.
In the PM now on the $DAL chart, we can see that the price action is testing the 50 Day MA, the 1 Fib and the yellow trend line at the same spot at $49.
So bulls will want this level to hold here.
I would be surprised if this level did not hold.
