Daily Stock Report

United Airlines Holdings Inc. - (UAL) - April 25, 2022

United Airlines (UAL) was one of only 15 stocks in the SIA S&P 500 Index Report to post a gain on Friday. UAL spent over a year stuck in the red zone but has been climbing back up the rankings since March and recently returned to the Green Favored Zone for the first time since January of 2021. On Friday it finished in 78th position, up 34 places on the day and up 167 spots in the last month.  

A major breakout is underway in United Airlines (UAL) shares. Last week, the shares staged a breakaway gap on a spike in volume that signaled a surge in new investor interest. This move carried the shares back up above $50.00 and appears to have completed a bullish Reverse Head and Shoulders base pattern, signaling the start of a new recovery trend. 

Based on a measured move from the $38.00 to $50.00 range that prevailed over the last four months, and a retest of the June 2021 high, the next notable upside resistance range appears in the $60.00 to $62.50 area. Initial support appears near $50.00, a round number, and the top of the recent gap, then the bottom of the gap near $46.00. 

Back in March, a selloff in United Airlines (UAL) shares appears to have brought a year-long-downward trend to a close in a selling climax. This month, the shares have started to recover, returning to their previous trading range completing bullish Double Top and Spread Double Top breakouts, and regaining the $50.00 level. 

Upside resistance appears in the $60.00 to $62.25 range where a round number, vertical and horizontal counts, previous column highs and the March 2021 peak all cluster. Initial support appears near $47.50 based on a 3-box reversal. 

With its bullish SMAX score increasing to 9, UAL is exhibiting strength against the asset classes.  

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