American airlines has been on a Long term downtrend like Singapore airlines since October of 2018. The pandemic accelerated that downtrend to a low of $8.25.
A long signal on 9/11/20 at the price of $12.70 targeted the monthly pivot at $28.27
As we approach the rebound target, the daily support of 21.23 will play an import pivot as an overhead resistance in 27 month downtrend.
LONG TERM DOWNTREND SINCE 011018
MEDIUM TERM UPTREND SINCE 301120
SHORT TERM UPTREND SINCE 091120
PIVOT 21.23
Long position above 21.23 for 28.27 and 36.54
Short positions below 21.23 for 18.42 and 17.31
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