American Airlines: Expected To Remain On The Downward Trend

Nov 29, 2021 at 7:01 AM EST

Today, if the price does not rise towards its resistance level at around $18.50, then it could stay on the downtrend trend, testing again its support level at around $17.

Today’s instrument is the American Airlines stock traded in the Nasdaq exchange under the ticker AAL.

aerial photography of airliner

Photo by Ross Parmly on Unsplash

If we look at the AAL chart, we can see that after the announcement of the Omicron variant, it significantly dropped to just below $17 and closed at around $17.65.

Today, if the price does not rise towards its resistance level at around $18.50, then it could stay on the downtrend trend, testing again its support level at around $17.

(Click on image to enlarge)

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