AAL: Multi-year correction completed, new impulse beginning

I need to look at the monthly charts more. Looking at the houly and daily, I was conflicted on if AAL was a good buy but switching to the monthly, the picture became much clearer. There appears to be a larger multiyear correction completion the coincided with the strong selloff last March. A year from that time, the price has now more than doubled but it may only be the beginning - We may have only seen the first wave or a new cycle for AAL - short term may be bearish considering overall market conditions but long term - there are good gains to be had here

(there's also the obvious catalyst of the end of covid that could drive not only AAL but several other airline stocks soaring later in 2021 and through 2022)

Kommentar:

Good move today