$AAL Will File for Bankruptcy

My last post on $AAL was here. That was last fall when it was of course not yet clear just how much longer we were going to rally. As things have deteriorated, so has this stock, and let’s look at the long-term picture. It does not look very good.

From the GFC low, there are seven swings up and not just five. There is a good impulse wave in there (the pink count) but as it has swings before it (the yellow a-b on the left), that makes everything from the GFC low a correction only.

From the 2018 high, we seem to have two swings in already, and have entered a third (yellow c on the bottom right). The problem is, given the magnitude of the price range, there are only two fibs available to us (the rest are in negative price territory). And the 38.2% fib is a minor fib. It is highly likely that this will move to a major fib, such as the only other fib available to us, the 50% fib, which is effectively at zero.

AAL

This is the only airline which has more liabilities than it does assets, and if we have a strong recession, they will probably have to reorganize (at best) and common shares might be destroyed (and later reissued), which could explain this (more information regarding their dire fundamentals may be found in this article).


Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.


This Same Chart Pattern Is Appearing on Many Dozens of Names; Here Are 20 Examples

The pattern is self-explanatory. I see it present on dozens and dozens of names. I will show you 20 examples of where I see it, and list about 10 other tickers where I see it (but without also posting the chart).

Now, with this pattern, it shows potential, not guarantees. I just find it interesting that I see it in so many places all at the same time. Could they all fail together? Yes. It is a pattern that you can see in a down trend. However, it is also a pattern you will often see at a very bottom. If these do play out, many, many dozens of names may have already bottomed.

$AAL

AAL

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Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.


$AAL Bull Count and Minute Three Target

The last call on $AAL was back here, and that played out well. I am counting this stock at having entered intermediate (orange) 3, which could take it to about $40. Price action locally may be counted as a flat here for minute (blue) 2, and it could turn up at any moment (there are enough squiggles in the local move to call orange c or blue 2 complete). When it does, the expected target range for minute (blue) 3 is the target box.

AAL

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Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.


$AAL Bullish Wedge Set for Flight

$AAL continues to fill out its large bullish wedge.

It is well formed and provides us with two targets. I expect it to first rally to the orange box, where it may then pull back before then rallying to the prior high.

AAL

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Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.