Airline Stocks: United Continental (UAL)
Click to Enlarge United Continental (UAL) shares are testing the support level of a four-month trading range on a surge of negative volume. As a result, the 20-day MA has dropped below the 50-day for the first time since October — threatening UAL stock’s post-2012 uptrend.
I’m looking for a move down to the $38 level, which is the 50-week moving average — a line in the sand that UAL stock held last fall.
I have recommended the UAL April $43 puts to clients.