Airline stocks are coming under pressure this morning after the large spike higher in oil. Airline stocks are particularly sensitive to crude and energy prices.
Delta Air Lines Inc. (NYSE:DAL) is one of the largest passenger carriers in the world. The stock is declining lower by 0.80 cents this morning to $10.68 a share. The stock will have short term intra-day support around the $10.50 level. The next important daily chart support level for Delta stock will be around the $10.00 level.
AMR Corp. (NYSE:AMR) is the parent company of American Airlines. This stock continues to hold the $7.00 level on the daily chart. The next important daily chart support for AMR stock will be around the $6.50 level. Intra-day the stock will have some minor support around the $6.85 area.
United Continental Holdings Corp. (NYSE:UAL) is declining lower today by $1.71 to $25.24 a share. The stock will have some short term intra-day support around the $24.67 area. The daily chart will not have important support until the stock reaches the $24.00 area.
Should oil pullback or decline from it’s highs this could help the airline stocks catch an intra-day bid. High oil at this time is dictating most of the pressure in the airline sector.