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08/05/2018 |

Sunday Update for Week of 8/6 – Airline Multi-Timeframe Bollinger Bands (R)

A prepared trader is a profitable trader, and Sunday is a great day to get ready for the week. One way to do that is checking out one of the most powerful features on TrendSpider, Multi-Time Frame Bollinger Band (R) Analysis. This week we are focusing on the airline industry as there have been some big post ER moves to watch!
Below are three key airline stocks representing parts of the broad markets that we have analyzed and identified interesting trendline/Bollinger Band (R) setups. Based on the current charts, we are watching for a short-term reversal possible in the coming weeks.

Ticker #1: DAL

Current technical setup:

  • Price closed right at resistance on Friday with the daily SMA (20) as support below around $52.50.
  • The shorter term time frame (60 minutes) is still in an upward channel for now with the SMA on both the 60 and 120 minute acting as support currently.
  • If price breaks down through these two moving averages on the bottom chart, watch for a test of the channel support below around $53.25.

Ticker #2: UAL

Current technical setup:

  • The 240-minute candle has been trading in a very narrow range over the last 15 or so sessions. The daily Bollinger Band (R) is resistance above and the previous resistance is now acting as support below.
  • The shorter term time frame (60 minute candle) is trading in an upward slowing channel currently with price finding resistance right at the 120-minute upper Bollinger Band (R).
  • The hourly EMA (50) and the 2-hour SMA (20) are both acting as strong areas of support below.

Ticker #3: LUV

Current technical setup:

  • The 240-minute candle is currently moving up strong with the daily upper Bollinger Band (R) as the next level of resistance to watch above.
  • If price starts to reverse, the daily SMA (20) is the level to watch below.
  • The weekly candle for Southwest Airlines is looking bearish with a perfect touch of the EMA (50) below with a hard bounce off.

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REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis provided for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.