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Advanced TA SearchArchive
- 5/3/2024 -
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American Airlines Group (AAL) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the American Airlines Group (AAL). During the week, the AAL gave back -0.03 points, or -0.22%, and closed at 13.85 on Friday, May 3, 2024. Weekly volume was -15% below average.
 Long-term trend: [See AAL long-term trend chart]
A long-term downtrend had started on March 18, 2021 at 26.09 and reached 10.86 on October 31, 2023. AAL lost 15.23 points, or 58.37%, in 136 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 10.49 and resistance is at 16.63. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
 Medium-term trend: [See AAL medium-term trend chart]
A medium-term downtrend had started on March 4, 2024 at 16.15 and reached 12.72 on April 16, 2024. AAL lost 3.43 points, or 21.24%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 12.09 and resistance is at 14.93. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AAL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See AAL short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 12.72 and reached 14.68 on April 22, 2024. AAL gained -1.96 points, or -15.41%, in 6 days. The price is now at the 42.35% retracement level.
Daily Technical Indicators: [See AAL daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 18, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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