Air Arabia wants to fly

4 Jul 2020

Aviation industry is under pressure because of pandemic situation BUT as the flights are resuming now and operation starting this stock will push higher as fundamentally it will become more stronger and it is stronger. Technically it made hammer candle right at the dynamic support area which is 200 ema. Tomorrow if the market is positive this stock can go higher, nearest resistance is at 1.22 and support is at 1.17 once it crosses 1.22 more upside can be expected my first target would be 1.30. This stock is in a uptrend and making highs, I will wait for a decisive green candle tomorrow and thn take the trade to be safe.

This analysis was done on the request of a trader mkhaggag

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