Stock Picks For Thursday: Continental Airlines And UAL Corporation

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Stock Picks For Thursday: Continental Airlines And UAL Corporation

By Antonio Costa on July 2, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

United Airlines (UAUA) - The technical daily chart above shows that it is still to early to say that the downtrend has ended. The stock seems to have a remarkable support around the $3 mark, however it’s better to stay at the sideline. Only a close above $3.60 would trigger some positive sentiment.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Continental Airlines (CAL) had a good move today. The stock broke out the falling wedge pattern to the upside. This is a trend reversal pattern suggesting a halt in the bearish trend . The stock could touch an upside target of 10.42 in the short term. The technical daily chart shows the stock is now back to uptrend and with K line above D line we may see more upside. Existing holders could remain invested. CAL will move quickly, so watch the stock closely on Thursday.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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