American Airlines (NASDAQ:AAL) continues its sharp decline, now trading at $30.00. The stock has been under pressure of late not only because of higher oil prices, but due to fears of slowing economic growth and terrorism.
The stock likely has a little more downside before it hits major support. Look for an important buy level around $28.50. This level should trigger a solid bounce in the stock, i expect it to be around 10-20%. I have posted the stock chart below to help understand the support level.
The stock likely has a little more downside before it hits major support. Look for an important buy level around $28.50. This level should trigger a solid bounce in the stock, i expect it to be around 10-20%. I have posted the stock chart below to help understand the support level.
American Airlines Buy Level On The Charts
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