Looking at the monthly chart we can see an ascending channel, look out for a bounce off this approximate level in the next few days, if so it could be the beginning of a new bull run for Easyjet.
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Check the numbers on the chart when reading each point below:
1 - Was a gap down and continued the downtrend
2 - After a reversal at 1138, Ryanair and Monarch woes have
signalled a reversal.
3 - Next Job for EJZ is to break its downtrend and surpass 1450
There's a smaller multidiagonal confluence down here and as it combines with a strong rising support zone it looks to me like it has the potential to be a good short term trade.
EZJ has been trapped in a symmetrical triangle for a few months the boundaries have held well. RSI is showing support in the 45 area indicating decent support for the bull side. Looks ready to break to the upside in the next week or so.
Daily chart pattern
Bullish symmetrical triangle breakout
Overbought money flow index for the first time after March 2015
Stuck at 50-DMA level of 1125.24
The daily chart suggests the bullish break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily RSI, which is well short of overbought territory....
Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today.
The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an...
easyJet plc is a United Kingdom-based low-cost airline carrier. The Company operates as a low-cost European point-to-point short-haul airline. The Company operates through its route network segment. The Company operates on over 820 routes across more than 30 countries with its fleet of over 250 Airbus aircrafts. The Company's total fleet of aircrafts is split between 156-seat Airbus A319s, 180-seat A320s and 186-seat A320s. It is also focused on operating its fleet of A320neo aircrafts. The Company's bases include the United Kingdom, Switzerland, Italy, France (Paris, Charles de Gaulle, Lyon and Toulouse), Amsterdam, Venice, Oporto, Lisbon and Barcelona. It operates in airports, such as Gatwick, Edinburgh, Nice, Milan Malpensa, Venice Marco Polo, Naples, Basel and Geneva. The Company offers a mobile application-only proposition, targeting customers wishing to switch flights at short notice on the day of travel, and also offers pre-purchased in-flight vouchers.
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EZJ
