This morning, all of the leading airline stocks are trading higher. This sector has been fairly strong since mid-March 2012. This is exact time when oil topped out after trading as high as $110.00 a barrel. As you all know, oil is the largest expense for an airline outside of labor costs. Today, light sweet crude is trading lower by 0.72 cents to $82.60 a barrel.
United Continental Holdings Inc (NYSE:UAL) is considered to be one of the leading stocks in the airline sector. Today, UAL stock is trading higher by 0.65 cents to $22.67 a share. Short term traders should watch for intra-day resistance around the $23.00 area. The UAL daily chart is still trading above the important 200-day moving average which is favorable for a little more upside.
Some of the other leading airline stocks that are trading higher today include Spirit Airlines Incorporated (NASDAQ:SAVE), US Airways Group Inc (NYSE:LCC), and Delta Air Lines Inc (NYSE:DAL). Please remember, oil prices will continue to cause the airline stocks to be very volatile.