This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
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.
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