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American Airlines Group Inc (AAL) “On a long-term technical basis, the stock (AAL) is trading below its 200-day moving average which generally implies it is in a negative trend. However, the stock has broken up through an important long-term fibonacci resistance level at 17.01 suggesting the long-term down trend could be turning neutral. If this new level of support at 17.01 holds, look for a move higher to the next resistance level at 18.49.
The stock has support at 17.01 and 13.40. If the stock breaks down through support at 17.01 then it will probably continue lower to 13.40. The stock has resistance at 17.24 and at 18.49. If the stock breaks up through resistance at 17.24 then it will probably continue higher to 18.49. The 200-day moving average is at 22.41. This will also act as resistance. The stock is slightly overbought according to the Stochastic Indicator (72.04).”
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