AAL stock is presently witnessing a weak bearish momentum on the daily technical charts. On the daily chart, the share price is seeing a strong shorting. American Airlines stock is currently trading near the value of $14.77, with a loss of -0.87% in the intraday session.
The upside trend of American Airlines may halt near the value of $19.07. Meanwhile, the support of the share price is near $14.50. AAL price is currently roaming beneath the 100 and 200-day EMA. If the price surges beyond the 200-day EMA, then a strong upside trend can be seen in the future.
AAL price prediction indicates that the American Airlines stock is presently trading within the firm grasp of the bears. Despite making several attempts within the past few months, the buyers have not been successful in smashing the price above its essential resistance levels near 100 and 200 EMA on the daily-day chart.
The technical indicators favour the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for American Airlines’ price.
The company has had a poor performance over the last 6 months. AAL stock gave negative returns of -9.77% in a span of 6 months. In the last 1 month, it gave a negative return of -12.34% and -0.07% in the last 7 days. It indicates a long bearish trend continuing till now.
Technical Analysis: Will AAL Stock Price Rebound?
American Airlines stock (NASDAQ: AAL) is trading under the 50 and 200-day DMAs (Daily moving averages), which do not uphold the price trend.
Nevertheless, if more selling volume adds up in stock, then more downward levels can be seen in the upcoming weeks. The price might smash new lows by making lower highs and lows. Hence, the American Airlines price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 33.66 points. The 14 SMA is above the median line at 31.94 points which indicates that the AAL stock is bearish.
The MACD line at -0.5193 and the signal line at -0.5118 are above the zero line. A bullish crossover is observed in the MACD indicator which signals more strength for the American Airlines stock price.
American Airlines (NASDAQ: AAL) stock’s technical oscillators support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the American Airlines stock price. AAL price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
- Support Levels: The most immediate support levels for the AAL stock price are $14.45 and $11.56.
- Resistance levels: The most immediate resistance levels for the American Airlines stock price are $18.49 and $20.23.
The analysis delivered in this article is for informational and educational objectives only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.