NEW BULLISH Plays
American Airlines - AAL - close: 37.90 change: +1.10
Stop Loss: 36.70
Target(s): to be determined
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 25, 2014
Time Frame: exit PRIOR to earnings on April 24th
Average Daily Volume = 9.2 million
New Positions: Yes, see below
Why We Like It:
AAL is in the services sector. The company operates a major airline with almost 7,000 flights a day. The airline industry is dealing with what could be elevated fuel prices in 2014 but the year is still expected to be a strong one for airline profitability. Shares of AAL have been showing relative strength two days in a row and looks poised to resume its longer-term up trend.
Today's high was $38.20. I am suggesting a trigger to open bullish positions at $38.30. We're not listing a target today but we are expecting AAL to breakout past resistance near $40.00.
Trigger @ 38.30
Suggested Position: buy AAL stock @ $38.30