Wednesday, 22 January 2014

UAL - soars above the 2007 double top

Perhaps the most notable stock break through of the year so far, United Continental (UAL) has broken through the 2007 double top high of $48.25. UAL settled with gains of 2.6% @ $49.17. The daily charts are offering the first ever foray into the low $50s.

UAL, daily

UAL, monthly, 9yr


Suffice to say, the break into the 40s was indeed a key initial break, and now we're around 30% higher so far this incredible gain.

With the break into the $49s, there is..simply nothing but empty sky above for UAL.

The price action in UAL bodes pretty well for the other airlines, inc' Delta (DAL)