Short term view - RYANAIR HOLDINGS : The 50% retracement is causing the fall.
The resistance has been passed, the trend becomes positive as we now have a succession of ascending peaks and troughs.The next target is at €18.300. The invalidation level is below €15.248.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The 50% retracement is causing the fall.
- Prices are breaking above the moving average, it is a sign of strength.
Ryanair Holdings is a holding company. Through its subsidiaries, Co. operates an ultra-low cost, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the U.K., Continental Europe, and Morocco. Co. offers over 2,000 scheduled short-haul flights per day serving approximately 210 airports throughout Europe, and flying approximately 1,600 routes. In addition, Co. provides various ancillary services and engages in other activities connected with its core air passenger service, including non-flight scheduled services, Internet-related services, and the in-flight sale of beverages, food, and merchandise.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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