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Airline Stocks Fly Back To Earth, Three Levels You Should Know

Jan. 27, 2014 12:37 PM ET
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One of the best performing industry groups in 2013 has been the airline stocks. The consolidation in the sector has certainly helped the airline stocks rally throughout last year. Recently, the airline stocks have begun to decline from their high levels made last week. Now traders and investors should be patient and wait for the proper support areas before buying into the leading airline stocks.

United Continental Holdings, Inc. (UAL) is a leading airline in the United States. Traders should watch for solid daily chart support around the $38.00 level. This is an area where traders can look for a daily chart bounce.

American Airlines Group Inc. (AAL) has benefited greatly since emerging from bankruptcy. The recent merger with U.S. Airways has just added to the consolidation in the entire sector, this will help increase the pricing power in the entire industry group. Traders can watch for solid daily chart support around the $25.50 level.

Delta Air Lines Inc. (DAL) has been arguably the strongest stock in the entire airline sector. Traders should watch the $27.00 level for near term support. This is an area where traders can look for a short term bounce.

Nicholas Santiago

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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