Forced continuation pattern?
On a daily chart we can see the evolution since the stock price touched the bottom on 95$, after that it rebound to 180$ and everytime it touch the line of 120$ we can see an incoming flow of buying volume.
Considering the line of 120 as a support we can watch a wedge pattern that could brake and soar if good news on the air transport is coming. This news will come no later than 15th June as Caountries remove the quarentain of 14 days.
Let's wsit for those good news and a kick on buying volume.
I'm not a big fan of patterns as they are for me some kind of confirmation bias.
If you think differently, please, let me know. It is interesting to exchange opinions.
If you liked the idea, let me know that it's worthy so I will keep making anaysis like this.
On a daily chart we can see the evolution since the stock price touched the bottom on 95$, after that it rebound to 180$ and everytime it touch the line of 120$ we can see an incoming flow of buying volume.
Considering the line of 120 as a support we can watch a wedge pattern that could brake and soar if good news on the air transport is coming. This news will come no later than 15th June as Caountries remove the quarentain of 14 days.
Let's wsit for those good news and a kick on buying volume.
I'm not a big fan of patterns as they are for me some kind of confirmation bias.
If you think differently, please, let me know. It is interesting to exchange opinions.
If you liked the idea, let me know that it's worthy so I will keep making anaysis like this.