- $95.07 is Ryanair's highest rate in 5 weeks.
- Bullish streak halted at key Fibonacci level of $95.04
Ryanair has posted further gains as part of a 7 day trend that has already seen the stock gain $3. Heading in the same direction for now — the Irish low-cost carrier gaining 1.03% and hovering around the $94.44 level.
The stock has been trending positively for about a month. Ryanair hit a significant low of $56.89 around 6 months ago, but has since recovered 64.32%.
Trend-following investors would be interested to note that investors are seeking long positions as Ryanair Holdings plc price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Fibonacci-minded traders witnessed a key Fib resistance level of $95.04 holding firm – an indicator of highly concentrated supply around this level. Analysis based on the asset volatility indicates that Ryanair's upper Bollinger Band® is at $95.61, this is a slight indication of a slowdown. Technical chart analysis shows Ryanair could be slowing down soon as it approaches resistance at $96.06. Of course, crossing it might suggest further gains are ahead.
Notwithstanding Ryanair's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States NY Empire State Manufacturing Index (Apr) released today at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
This rally in Ryanair's share price coincides with other industrials stocks as Boeing is trading at $205.35 after ending Friday's session at $201.71 (up 1.8%). Raytheon Technologies added 1.02% to its value, now trading at $102.72. Deere & Company is up 1.1%.
Upcoming fundamentals: United States Building Permits (Mar) will be released tomorrow at 12:30 UTC.