Price action ending 19AUG presents an interesting scenario for
UAL
. First, there is clear price divergence with RSI, a bullish indication. Today's candle suggests a (crucial) third touch on a dynamic support level in the 43.00 range, suggestive of a possible upward bounce. Finally, today's candle also presents a double bottom against this rising support level, again a bullish indication.
My positions in
UAL
have been hammered in recent months, but I'm guessing that eventually the momentum will change direction. Today's candle simply presents one scenario for that change.
UAL
. First, there is clear price divergence with RSI, a bullish indication. Today's candle suggests a (crucial) third touch on a dynamic support level in the 43.00 range, suggestive of a possible upward bounce. Finally, today's candle also presents a double bottom against this rising support level, again a bullish indication. My positions in
UAL
have been hammered in recent months, but I'm guessing that eventually the momentum will change direction. Today's candle simply presents one scenario for that change.