UALD trade ideas
UAL stock predictionPersonally, UAL is in the consolidation area that traded around 30-32$. I do not see any of point that this stock will sway under 30$. However, due to the earnings date, the possible downside movement expected which around 25$ nearest support level. I hope we will not see around 20$ area.
UAL Bull trend Identification and potential Profit Zones!!For those looking to go short on UAL, I have identified the following potential bull trend in the short where you may be able to cash out some profit. The RSI is just at 60 suggesting the potential of a bullish rally continuing today and the MACD is divergent too further supporting the potential of a bull rally. TD Sequential also suggests that the trend is yet to exhaust and reverse as the counter of most recent candle is 5. Most importantly, a common trend after gap ups has been identified, where a mini bull rally happens, which can be easily missed as it often tends to dump afterwards.
Take Profit Zone - From 46.8 - 48 region
If going long, take this with a pinch of salt as it doesn't apply. Also account for the possibility of consolidation which I may have not taken into account but still remains fully probable as the second wave is still scaring people.
$UIAL Reversal trade developing in United Airlines
Major downtrend has been broken
Possible long on a break above Fibonacci resistance at $35.30
Potential upside targets $37.88- $40.00
Very much depends on continued strength in BA and Covid newsflow.
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United Support levelAfter a down week from a quick pop rally, we have a strong bullish candle right before the end of the week. Day to Day volume of trades remain high which keeps volatility high. Looking to see how price plays near this support of the channel will help determine our next trade from here. Based on standard deviations one can be able to determine the next highly probably price target points before we have earnings in July.
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