Securities of the US airline United Airlines apparently found a bottom in the area of 30.54 US dollars in the past year and were able to overcome a medium-term downward trend that has existed since 2019 a little later. However, the share is currently still stuck at the horizontal resistance around 54.50 US dollars, but the technical chart analysis shows further outward potential, assuming a five-wave price recovery. To do this, however, it is imperative that the next hurdles are cleared, then even in the medium term much greater momentum could return to the share.
Travel industry on course for recovery
In the short term, United Airlines could actually be out of steam, only above at least US$55.00 would there be a further upleg with targets around US$60.00 and above US$63.70. Corresponding long positions could then be closed on this, a suitable note will be presented later. On the other hand, short-term pullbacks could reach down to the $49.72 area, which is also where the two 50/200 EMA moving averages are found. By the way, these are about to cross bullishly.