Trading Update Creates Catalyst for Breakout
easyJet released a market-beating trading update last week which has created the catalyst required for a major breakout.
The trading update, covering the quarter ended 31st Dec 2023, painted a positive picture of easyJet's financial performance and outlook. Despite facing headwinds from the conflict in the Middle...
On the hourly chart, EasyJet (EZJ) made a bullish breakout after forming a cup with handle pattern. Buyers may continue to push the EZJ share price forward to 415.3 - 422.6 levels, with 428 - 429.9 levels (August highs) as additional bullish targets.
Breaking down and closing below 399 pence may invalidate the prior hypothesis, causing the EZJ share price to fall...
EasyJet - 30d expiry - We look to Buy at 353.1 (stop at 329.8)
A lower correction is expected.
Short term RSI is moving lower.
A higher correction is expected.
Bespoke support is located at 350.
We look to buy dips.
338 has been pivotal.
The 50 day moving average should provide support at 352.
Our profit targets will be 409.8 and 419.8
Resistance: 430...
EasyJet - 30d expiry - We look to Buy at 351.1 (stop at 332.9)
A bullish reverse Head and Shoulders is forming.
Levels below 350 continue to attract buyers.
Bespoke support is located at 345.
We look to buy dips.
This stock has seen good sales growth.
338 has been pivotal.
Our profit targets will be 396.6 and 406.6
Resistance: 375 / 400 / 430
Support:...
EasyJet - 30D expiry - We look to Buy a break of 311.1 (stop at 288.8)
We are trading at oversold extremes.
The trend of lower highs is located at 370.
The previous swing high is located at 375.
We look for a temporary move higher.
There was little net movement as we continue to consolidate within the 280 - 310 range.
Although the bears are in control, the...
EasyJet - Intraday - We look to Sell at 401.2 (stop at 434)
The medium term bias remains bearish. Broken out of the channel formation to the downside. An overnight negative theme in Equities has led to a lower open this morning. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile.
Our profit targets will be 275 and 250
...
Good Day!
Trade idea was posted via VIP group a few months ago - with significant gains, and profits booked. Successful trade.
However - the situation we have now, is a set-up now presenting an even better risk-to-reward ratio.
Previous trade commentary shared in VIP group, remains valid.
Good luck!
Best,
Figuring Out Finance
VIP Trade Set-up shared...
EasyJet
Medium Term
We look to Buy at 385.00 (stop at 364.00)
Previous support located at 385.00. The medium term bias remains bearish. We are trading at oversold extremes. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 489.00 and 565.00
Resistance: 500.00 / 581.00 /...
EasyJet - Short Term - We look to Buy at 651.8 (stop at 610.0)
Preferred trade is to buy on dips. Previous resistance, now becomes support at 650.00. The bias is still for higher levels and we look for any dips to be limited. The medium term bias remains bullish. 20 1day EMA is at 635.00. We look for a temporary move lower.
Our profit targets will be 797.8...
A potential reversal on the weekly time frame to be confirmed by a weekly close above 657 resistance that corresponds to the 38.2% Fibonacci retracement level, and the 50 EMA as well.
EasyJet plc, styled as easyJet, is a British multinational low-cost airline group headquartered at London Luton Airport. It operates domestic and international scheduled services on over 1,000 routes in more than 30 countries via its affiliate airlines EasyJet UK, EasyJet Switzerland, and EasyJet Europe. EasyJet plc is listed on the London Stock Exchange and is a...
Friday's massive volume shows that traders and investors are betting on easyJet to turn it around. One day does not make a reversal although the high volume seems compelling.
The chart represents my idea of the current position of Easyjet + where I will buy, my stop loss and three take profit zones. This will be a LONG term hold. Not financial advice. Comment any differing viewpoints below.
