U.S. Airways Signals Near Term Bottom
US Airways Group Inc (NYSE: LCC) has formed a bottoming tail on the daily chart after hitting the 200 moving average. This signals a high likelihood of a near term bottom in the stock.
Just days ago, the Department of Justice canned the merger between US Airways and American Airlines. This merger has long been in the pipeline and is obviously a big disappointment for the two companies. U.S. Airways dropped hard yesterday and early today.
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