Thursday, 19 July 2012

UAL - breaks below the cloud deck

United Continental (UAL) was highlighted just recently, and the unknown issue was which direction would it break  We've now seen UAL change course...to the downside. Today's decline was confirmation of the initial move.


UAL, daily


Summary

First target is the 200 day MA of $21, and then secondary of $20.

If the SP and main market starts to unravel in the next few weeks, UAL is set for a major crash dive into the mid teens again.