CHR - continuation trade
2021-11-24
Markets are mixed, (near all time highs)
CHR and airline stocks mostly under-performed the market
CHR and AAL and AC have almost identical price movement, which is surprising as it mostly did not go out of sync even during earning periods.
Bearish trend line was broken Nov 3rd. This is also true for AC.
This trade is looking at Oct 29 being reversal day
Nov 3rd confirmation of broken down trend
Nov 8th new high
Nov 24-26 (new higher low)
and bullish continuation.
stop loss at 3.54 below support level.
No profit target.
I am going to track this carefully as I think there will be upside in the next 2-3 years for airline stocks.
Markets are mixed, (near all time highs)
CHR and airline stocks mostly under-performed the market
CHR and AAL and AC have almost identical price movement, which is surprising as it mostly did not go out of sync even during earning periods.
Bearish trend line was broken Nov 3rd. This is also true for AC.
This trade is looking at Oct 29 being reversal day
Nov 3rd confirmation of broken down trend
Nov 8th new high
Nov 24-26 (new higher low)
and bullish continuation.
stop loss at 3.54 below support level.
No profit target.
I am going to track this carefully as I think there will be upside in the next 2-3 years for airline stocks.
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