Will the Double Bottom hold or fail? Plot your targets on the chart.
Reversal pattern after a downtrend.
Technical analysis of United Airlines Holdings (UAL) reveals a significant setup. The stock is trading at $118.27, up 2.53% on the day. Price action has carved out a classic Double Bottom. The trend indicator is reading 45.1/100, suggesting moderate momentum. A potential breakout level is identified at $138.77, targeting $175.77 with support near $120.27 (R:R 2.0).
What is your outlook on UAL?