Hey lovely traders, friends and students from around the world. What a massively exciting, challenging and volatile last few days. The vast majority of the companies are down and down hard and many are wondering ‘where’s the bottom’ and what are some good buys and not good byes.
One stock in particular, I’ve had my eyes on since early May. I really didn’t not think AAL would sell off this hard or fast, but it did. I’ve had many traders ask my opinion on AAL and it’s one followed by many. I am looking to buy low on AAL around the $24 mark. AAL has made a decisive and quick move through some very strong supports, but this is an area where I feel comfortable buying AAL.
4/22/16 and of course 6/24/16 were both strong bearish gap and go’s on AAL. The EMA’s and trends have been bearish for a while and this has been a fun one to ride down bearish. Now, let’s see about flipping and being long. I’m planning to have shares of DAL and AAL both at these levels and then from there, if the markets bounce, these airlines might follow. The risk : reward is great down here, especially for a 3-4 year buy.
Just my thoughts, plans and opinions! Thanks for reading and let me know if you have any questions!
