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.
Take a look at the 1-year chart of Norfolk (NASDAQ: AAL) below with my added notations:
1-year chart of Norfolk (NASDAQ: AAL)
AAL went into a 5-month decline staring in March. However, during the
last 3 months of the decline, and beginning of the rally, AAL created a
clear level of resistance at $44 (green), which had also been support
prior. A break above that $44 level should mean higher prices for the
stock, and last week AAL broke that resistance.
The Tale of the Tape: AAL broke through its key
level of resistance at $44. A long trade could be entered on a pull back
down to that level. However, a break back below $44 could negate the
forecast for a higher move and would be an opportunity to get short the
stock.
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