United Continental Holdings Inc (UAL) - Head and Shoulders SHORT
Airline stocks have been poor performers, despite the short term pullback in crude oil recently experienced.
UAL's peers seem to be in an downtrend and with the formation of the head and shoulders formation, any break of the neckline would indicate a short.
Additionally on the chart above we have the MACD turning negative , RSI falling and a daily squeeze pushing to the downside.
Previously similar price action has played out with price breaking from $86.00 and finding support at $78.00
UAL's peers seem to be in an downtrend and with the formation of the head and shoulders formation, any break of the neckline would indicate a short.
Additionally on the chart above we have the MACD turning negative , RSI falling and a daily squeeze pushing to the downside.
Previously similar price action has played out with price breaking from $86.00 and finding support at $78.00