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United Airlines (UAL) Comes In For Landing, Watch This Trade Level

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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