American Airlines: double bottom holds, confirmation still open
American Airlines slips 3.4%, yet the double bottom in the 13 area holds
American Airlines: double bottom holds, confirmation still open
Our view last week
American Airlines sheds 11.6% this week and opens a fresh Sell signal, taking the top spot among the 140 US sell signals in our ranking. Signal strength hits the ceiling at 100 out of 100: a downtrend making lower lows, pace holding, with no sign of fading. Sellers control more than 90% of daily volume and the stock stays boxed into a tight range. Earnings just passed, the gap risk now behind it.
This week's summary
American Airlines stock closed the week down 3.4%, but under the surface the picture is more nuanced: the daily chart carved out a clean double bottom in the 13 area, with a 41% rebound off the lows, while price stays boxed into a tight range. American Airlines technical analysis: the Sell signal is in its second week and confirmation is still pending, with signal strength reading this move as a simple isolated weekly drop.
IQS Phase
50
ordinary
Signal Strength
47
isolated weekly drop
Sizing
REDUCED
Ranking
#40 / 141
US stocks sell signals
Trade P&L %
+3.37%
from signal to today
Rank position
ranks 40th among the 141 sell signals for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
AAL belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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