$AAL - Strong flag pattern set-up in American Airlines.
I like the support zone here in $AAL for two reasons. They raised capital at a price of $13.50/share and obtained super favorable terms on bonds that won't be due for some time.
The volume today was over half the float. That is the third highest volume day in the last year and typically those can be followed by rapid rise type follow through.
Three of the biggest banks on WallStreet are running the $AAL offering and they are not likely to allow the stock to fall below the secondary offering price.
This gives American plenty of liquidity to navigate back to profitability as we exit Corona travel restrictions.
There was a really strong flag pattern in the daily on the stock. I expect it to create another post. Possibly as soon as tomorrow and think that move could be worth up to $3.24/share.
**This is all strictly based on my own opinion and analysis. Do your own research.
The volume today was over half the float. That is the third highest volume day in the last year and typically those can be followed by rapid rise type follow through.
Three of the biggest banks on WallStreet are running the $AAL offering and they are not likely to allow the stock to fall below the secondary offering price.
This gives American plenty of liquidity to navigate back to profitability as we exit Corona travel restrictions.
There was a really strong flag pattern in the daily on the stock. I expect it to create another post. Possibly as soon as tomorrow and think that move could be worth up to $3.24/share.
**This is all strictly based on my own opinion and analysis. Do your own research.
