This morning, leading airline stock, United Airlines Holdings Inc (UAL), is declining after reporting earnings. The stock has been weak since topping out on December 4th, 2020 at $51.31 a share. Today, the stock is declining by over 5.0% to $42.53 a share. Obviously, the coronavirus has been the catalyst for the weakness in the entire airline sector. United Airlines missed by $0.58, misses on revenue and guided Q1 revenue below consensus.
The next daily chart support level for United Airlines Holdings Inc (UAL) stock will be around the $38.75 area. This is where the stock has its 100-day moving average. This support level is also where the stock formed a sideways base in November 2020 before breaking out to the upside. Watch this level for a bounce in UAL stock at this daily chart support level.
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