Weaker technical forecast for American Airlines Group as stock downgraded to Strong Sell Candidate.
(Updated on Nov 29, 2021)
Sell candidate since 2021-11-29 PDF
The American Airlines Group stock price fell by -0.0563% on the last day (Monday, 29th Nov 2021) from $17.75 to $17.74. and has now fallen 5 days in a row. During the day the stock fluctuated 4.82% from a day low at $17.42 to a day high of $18.26. The price has fallen in 7 of the last 10 days and is down by -12.57% 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 -41 million shares and in total, 43 million shares were bought and sold for approximately $755.60 million.
Given the current horizontal trend, you can expect American Airlines Group stock with a 90% probability to be traded between $17.63 and $22.10 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.
Signals & Forecast
There are few to no technical positive signals at the moment. The American Airlines Group 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 $18.96 and $19.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 09, 2021, and so far it has fallen -20.31%. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.84 between high and low, or 4.82%. For the last week, the stock has had a daily average volatility of 4.68%.
American Airlines Group is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is American Airlines Group stock A Buy?
American Airlines Group holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.535
Predicted Opening Price for American Airlines Group of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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On Oct 26, 2021 "Citigroup" gave "$21.50 - $20.50" rating for AAL. The price target was set to $19.67+2.3%.
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