TrendSpider Thursday Analysis: Airlines “Fly” From Mid-January

Every Thursday, TrendSpider releases a blog looking at a group of stocks to show some of the features of the platform as well as show interesting patterns setting up. In this Thursday’s blog post, we take a look at airlines once again to see how the charts from a couple of weeks back have materialized since. To compare the charts from the blog “Airlines Ready to Fly?” two weeks ago, click here.

$DAL: Daily Candle

1.  A huge move up in price today, 1/30, with room to move up before testing the weekly SMA (20), something that has been tested on the two other charts.
2. The VI- is crossing through the VI+ to the downside which has been a reversal point for further upside in the past when this divergences between the two get big enough.
3.  The RSI is still trading below overbought conditions with the price generally topping out somewhere in the red shaded area when the price is ready to reverse to the downside.
4. The weekly MACD histogram continues to show a possible curl to the upside but a bullish cross has not occurred yet.

$LUV: Daily Candle

1.  LUV has made a huge move already since the blog post two weeks ago with a huge move through the weekly SMA (20) already and almost a test of the resistance area above which has an alert set on it.
2.  The Vortex Indicator shows that the move has already started and a strong appreciation in price occurred after the VI- crossed through the VI+ to the downside, something that is set up on both DAL and UAL.
3.  The RSI is trading in overbought levels which is something to watch for a possible reversal. However, this overbought signal has falsely signaled before as price continued to move up back in November of 2017.
4. The weekly MACD overlay on the LUV is showing a recent bullish cross which is the only bullish cross out of the three tickers for this update.

$UAL: Daily Candle

1.  The daily price action closed right above the weekly SMA (20) today with the previous support now acting as resistance above once again.
2.  The VI- is about to cross down through the VI+ which has also been an indicator for further moves up in the past. Some of these moves have been only a few days before a reversal while others have been longer-term moves up after the cross.
3.  The RSI is still trading in the blue-shaded area which shows it may still have room to move up.
4.  The weekly MACD did not cross below the zero-line on any of these drops since the hard correction in October and is now starting to curl to the upside once again.