UAL - ready to crash into the valley floor

United Continental (UAL) - as noted just over a week ago, was in real danger if it broke the lower channel line of the wedge. With the subsequent break, UAL remains in a steep decline, and there is no sign of a turn yet.


UAL, daily

Summary

There is nothing good about the current trend - not least since the broader market is still toppy. Sp'1200 would probably equate to UAL in the low teens...possibly 10, if Mr Market decides that a US recession is coming later this year.