$AAL
Added 2023-10-18 14:54:22 +0000 UTC$AAL continues its decline with our projection and is fastly approaching the 0.887 Fib, this has pulled back significantly more than $UAL and $DAL and both of those airlines have reported their earnings already, both reporting record profits but still declining hard.
$AAL is the last of the Top 3 to report.
Will there be a final flush here to the 0.887 Fib after the earnings report is released tomorrow morning? it is certainly looking like it.
I suspect the same report as the other two, record profits for the summer months but concerned about oil prices for Q4 as the price of oil is moving up to $100.
I will be looking at adding one of the Top 3 when I see support come in.
The covid low was at $8.36, I do not believe airlines are in the same position now as they were in March 2020 but yet the share prices may be the same.
That is a clear opportunity to me.
Comments
I was probably a little too eager yesterday when buying AAL. I should have waited for it to find support. I'm gaining experience at the moment I guess :-). Even so, I am still confident that my average cost will not be too bad... The question I am now asking is the following: Is it betting on higher oil price at the same time as higher airline stock price does cancel any possible profit ? E.g. If I have OXY and AAL, when one goes up, the other seems to go down... I feel like I better choose my side. I am under the impression that the oil barrel price is far from being at its maximum....
Luc
2023-10-19 03:13:05 +0000 UTC
