The airlines are a mixed bag currently. American Airlines (AAL) has an ugly chart. Alaska on the other hand is leaving the runway and starting to rise above the clouds of 2018.
There are new fresh breakouts occurring on this little pullback. Try to find stocks that might be able to find higher ground. With the global weakness, I would be inclined to keep stops tight.
Good trading,
Greg Schnell, CMT, MFTA
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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