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This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

The airline sector was one of the hardest-hit during Covid, but the bounceback – – thanks to hundreds of billions of dollars of free cash from the U.S. government – – has been quite spectacular. Some charts have blown right through obvious zones of resistance……….

………while others are at important junctures, making it unclear whether the corporate welfare rally will continue or not.

The one large domestic carrier which looks close to meaningful resistance is American:

While non-U.S. carriers (perhaps because they aren’t getting free money shoveled their way) are looking more vulnerable.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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