American Airlines Group Inc (NASDAQ: AAL)

American Airlines Group Inc., through its subsidiaries, operates in the airline industry. As of December 31, 2014, the company operated 983 mainline jets, as well as 566 regional aircrafts through regional airline subsidiaries and third-party regional carriers. It serves 339 destinations in 54 countries. The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc. in December 2013. American Airlines Group Inc. was founded in 1934 and is headquartered in Fort Worth, Texas.
Take a look at the 1-year chart of American (NASDAQ: AAL) with the added notations:

AAL shot higher off of its October low. Once the stock peaked, the last 4 or 5 months found AAL hitting support at $46 (green). Now that the stock looks like it may be falling down to that support level again, traders should be able to expect some sort of bounce. However, if the $46 support were to break, lower prices should follow.

The Tale of the Tape: AAL has a key level of support at $46. A trader could enter a long position at $46 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.
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