Shares of American Airlines Group Inc. (NASDAQ:AAL) have been in a steep decline. Since the beginning of June, they've lost about 20% of their value...but there’s a chance the sell-off is over.
Shares have reached a support level. At these levels, there is more demand than supply. Buyers absorb all of the shares that are offered. Sellers can sell all they need to without fear of pushing the price lower. This is why selloffs end when they reach them.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Sometimes stocks rally after reaching support. This is what happened with AAL when it reached the $20 level in April. Now the shares have reached this important level once more.
There’s a chance they rebound again.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.