Shares of American Airlines Group Inc. (NASDAQ:AAL) have come under pressure the last two weeks even as the price of oil has dropped. This drop in oil should help American Airlines Group Inc. (NASDAQ:AAL) as it cuts their fuel prices, helping their bottom line. The stock has now created a "Head and Shoulders" top pattern on the daily chart. If this chart pattern...
Kiplingers had an article on airline stocks that opened with "There's an old wall street joke about how to end up with $1 million worth of airline stocks...Start with $10 million."
"In 2000, nine airlines controlled about 80% of the U.S. markets. Today, just four companies control about the same percentages."
Looking at the major players American Airlines...
Internal divergences at the recent highs are suggestive of a weakening trend and with high volume down days happening, there is distribution evident on the chart for AAL.
Note that the "range movement" has broken its trendline and is close to a 2-month low, which is a solid definition of a downtrend.
43 is ideal resistance from 12-days of time there.
Target...
