- American Airlines (AAL) fades part of Monday’s gains above $13.00.
- The carrier said it will book full flights starting on July 1st.
American Airlines Group Inc. (NASDAQ: AAL) is down smalls in the mid-$13.00s during premarket activity on Tuesday, extending at the same time Monday’s positive momentum.
In fact, AAL is seen extending the trade in the area of multi-day highs just below the $14.00 mark per share on turnaround Tuesday, in line with the sentiment in the broader US markets, where all three benchmark indices – DowJones, S&P500 and NASDAQ – are posting modest gains at the time of writing, prolonging at the same time the optimism seen at the beginning of the week.
In the meantime, American Airlines Group Inc. (NASDAQ: AAL) announced it will start booking full flights from next month, skipping the social distancing onboard (thus voiding the 85% booking capacity limit) although complying with other rules aimed at preventing contagion.
This appears quite a risky decision by American Airlines Group Inc. (NASDAQ: AAL), as it fully challenges social distancing, considered the pillar of the fight against the coronavirus pandemic.
AAL Stock Chart
As of writing, AAL is retreating 0.23% at $13.39 and faces the next support at $12.02 (weekly low Jun.29) seconded by $10.01 (monthly low Mar.23) and then $9.09 (monthly low Apr.23). On the other hand, a breakout of $15.00 (100-day SMA) would aim for $21.62 (200-day SMA) and finally $22.80 (monthly high Jun.5).
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