- Ryanair is eyeing the $74.81 support level
- Ryanair looks below $75.79 (10 day Simple Moving Average) as signpost for new negative trend
The Irish low-cost carrier is sliding down from $76.42 to $75.47, taking a 1.24% loss as it nears the end of the session.
The stock has been trending positively for about a month. Ryanair hit a significant low of $56.89 around a month ago, but has since recovered 34.33%.
Ryanair Holdings plc made an initial break below its 10 day Simple Moving Average at $75.79, a possible indication of a forthcoming negative trend. In contrast, Ryanair could begin to recover as it approaches significant support, now 66 cents away from $74.81. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Ryanair is likely to continue pointing down in the short term.
Fundamental indicators – highly important Consumer Confidence data from United States beat analyst expectations of 100 with a reading of 100.2.
Positive performances can be seen by looking at other industrials stocks as United Parcel Service is trading at $184.31 after ending yesterday's session at $179.91 (up 2.44%). Union Pacific is up 1.97% to $212.62. Boeing added 1.75% to its value, now trading at $174.83.
Upcoming fundamentals: United States Pending Home Sales is projected to outperform its last figure with -5%, having previously been at -10.2%. The figure will be published tomorrow at 15:00 UTC.