Hubert Senters here.
Let’s take a look at AAL, American Airlines going down today down $2.50, $6.37 percent has been having a rough 2018. And looks like it’s going to get worse. So if we look at this we can say that it is below the cloud. It is below the turning line. Below the standard line. And then we’re going to back up keep it really simple and see we’ve got some good old fashioned support at.
On my chart, we have some good old fashioned support at $35 and then all the way back down here to $30. So in this case scenario, what I would like to do is I wouldn’t short this thing because we’re really close to that target. I would look at $35 to $30 as a buying opportunity on support but then I would dial down and wait for.
So in other words when I get to this zone hopefully it’s not too confusing and we’ll let it get down to this zone and then I’m going to look for an hourly buy signal and then that’s the point at which I would be a discount buyer on American Airlines, AAL in the $35 to $30 from $30 to $35 with an hourly buy signal on the cloud.
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Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.