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SmarTrend Watching for Potential Rebound in Shares of American Airline After 4.03% Loss

By David Diaz

American Airline (NASDAQ:AAL) traded in a range yesterday that spanned from a low of $26.40 to a high of $27.14. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $27.45 on volume of 4.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, American Airline share prices have been bracketed by a current low of $26.44 and a high of $43.89 and are now at $26.44. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of American Airline on July 29th, 2019 by issuing a Downtrend alert when the shares were trading at $30.87. Since that call, shares of American Airline have fallen 10.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders american airline

Ticker(s): AAL