- Ryanair drawing closer to significant resistance at $78.69 with potentially further upside ahead
- Upper Bollinger Band® currently at $78.41
Ryanair has posted further gains as part of a 3 day trend that has already seen the stock gain 78 cents. Friday's session pointed in the same direction — after closing Thursday at $76, Ryanair closed at $77.74 Friday after climbing to $78.53 and dropping back down.
The stock has been trending positively for about a month. Having set a significant high of $124.13 2 months ago, the low-cost airline is trading 33.63% lower.
Support/Resistance levels obtained from chart analysis indicate that Ryanair Holdings plc could be slowing down soon as it approaches resistance at $78.69. Of course, crossing it might suggest further gains are ahead. Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Ryanair's upper Bollinger Band® is at $78.41, this is a slight indication of a slowdown.
Notwithstanding Ryanair's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While Ryanair was bullish Friday, the following industrials stocks underperformed: Deere & Company went down to $434.81, losing 1.83% after it closed at $442.93 Friday. United Parcel Service closed at $177.64 (down 1.11%). Caterpillar went down 1.57%, closed at $230.92.
Upcoming fundamentals: United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released tomorrow at 13:30 UTC.