American Airlines Stock Forecast
American Airlines stock price down 1.60% on Monday
(Updated on Apr 15, 2024)
The American Airlines stock price fell by -1.60% on the last day (Monday, 15th Apr 2024) from $13.15 to $12.94. During the last trading day the stock fluctuated 4.42% from a day low at $12.90 to a day high of $13.47. The price has fallen in 7 of the last 10 days and is down by -16.03% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 million shares and in total, 27 million shares were bought and sold for approximately $351.10 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $12.72 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect American Airlines stock with a 90% probability to be traded between $12.54 and $15.36 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
AAL Signals & Forecast
There are few to no technical positive signals at the moment. The American Airlines stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.53 and $14.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -17.47%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for American Airlines stock
American Airlines finds support from accumulated volume at $12.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.570 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 3.47%.
American Airlines is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AAL) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect American Airlines Group to open at $13.10, and during the day (based on 14 day Average True Range), to move between $12.49 and $13.39, which gives a possible trading interval of +/-$0.454 (+/-3.51%) up or down from last closing price. If American Airlines Group takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.93 (0.08%) than the resistance at $14.00 (8.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is American Airlines Group stock A Buy?
American Airlines holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.772 Sell Candidate Unchanged
Predicted Opening Price for American Airlines Group of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $13.10 ( 1.26%) | $12.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.67 | 5.67 % | |
| R2 | 13.46 | 3.98 % | ||
| R1 | 13.32 | 2.94 % | ||
| Current price: | 12.94 | |||
| Support | S1 | 12.89 | -0.420 % | |
| S2 | 12.75 | -1.46 % | ||
| S3 | 12.53 | -3.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.36 | 18.70 % | |
| R2 | 14.90 | 15.15 % | ||
| R1 | 14.00 | 8.19 % | ||
| Current price | 12.94 | |||
| Support | S1 | 12.93 | -0.0773% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
AAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2020 | Feb 04, 2020 | Feb 19, 2020 | $0.100 | 0.353% |
| 2 | Oct 22, 2019 | Nov 05, 2019 | Nov 20, 2019 | $0.100 | 0.354% |
| 3 | Jul 25, 2019 | Aug 06, 2019 | Aug 21, 2019 | $0.100 | 0.379% |
| 4 | Apr 26, 2019 | May 07, 2019 | May 22, 2019 | $0.100 | 0.334% |
| 5 | Jan 24, 2019 | Feb 05, 2019 | Feb 20, 2019 | $0.100 | 0.285% |
FAQ
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