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Possible Bullish Inside Day Candle Pattern Detected for American Airline (NASDAQ:AAL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Airline (NASDAQ:AAL) based on the price action in the company's shares. Yesterday's price range of $31.61 and $31.86 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of American Airline may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Airlines Group Inc. operates an airline that provides scheduled passenger, freight, and mail service throughout North America, the Caribbean, Latin America, Europe, and the Pacific. The Company also provides connecting service throughout the United States, Canada, and the Caribbean.

American Airline share prices have moved between a 52-week high of $43.89 and a 52-week low of $27.02 and closed yesterday at 18% above that low price at $31.82 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.3%.

Potential upside of 84.5% exists for American Airline, based on a current level of $31.82 and analysts' average consensus price target of $58.71. American Airline shares should first meet resistance at the 50-day moving average (MA) of $32.20 and find additional resistance at the 200-day MA of $34.28.

SmarTrend is tracking the current trend status for American Airline and will alert subscribers who have AAL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle american airline

Ticker(s): AAL