Classic cross over signal on AAL. Price has sold off for about the last 30 trading sessions placing the at a prime value to cross over for a retracement. This setup is pretty basic I am not going to complicate the trade with much more analysis other than this. The has already crossed over signaling a buy, and the Histogram has also just crossed the zero line . Any price action trading against this will be noted as and assumed to be followed by a corrective move in support of the bulls. Other than this classic setup I have key lines drawn where price is likely to on, and a price range of where price will most likely trade to/through. The Darker shaded areas inside the Price Range are targets that price will should trade to around that specific time, if we do see a breakout. The only cautionary statement here is going to be in reference to the natural disaster in Texas that compromised the oil reserves sending the price of Crude Oil down and the price of fuel in the USA up. This may create uncertainty in the market, however overall the Stock is setup to rally and I think that will prevail.
Entry, buy the swing low of the 1 hour chart.
Exit, at any of the targets or when you're comfortable.
Stop, use about 1/3 or 1/2 the value of the ATR. If your setting stops.