Market Overview

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.

Gareth Soloway

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


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