Airlines Take Off – DAL, JBLU, UAL, LUV

Ever since AMR Corp (NYSE:AMR) filed for bankruptcy the other leading airline stocks have taken off to the upside. Many of the airline stock have surged higher by 10.0 percent or more in just five trading days. While these airline stocks have gotten hot recently they are starting to near important resistance levels. Traders should not expect these stocks to keep the ascending path with out a little turbulence soon.

This morning, Delta Air Lines Inc (NYSE:DAL) is trading higher by 0.08 cents to $8.62 a share. On November 25, 2011 the stock was trading as low as $7.08 a share. This is a massive move for this stock in such a short amount of time. Traders must watch for short term daily chart resistance around the $8.90 – $9.00 area. The stock will some intra-day resistance around the $8.77 level.

Many of the other leading airline stocks such as United Continental Holdings Inc (NYSE:DAL), Southwest Airlines Co (NYSE:LUV), and JetBlue Airways Corp (NYSE:JBLU) are all nearing important daily chart resistance very soon. Traders should start to look for these stocks to pullback a little off these recent highs very soon.

About Nicholas Santiago 576 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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