| 
May 29, 2023- Despite dipping below $105.5 as support, market bulls are still in control
- Ryanair's upper Bollinger Band® is at $108.56 which indicates a further downward move may follow.
Though in the midst of a 5 day uptrend, gaining a total of 6.62%, ($7.41), The prevailing bullish trend is beginning to fade following Friday's downbeat session. An influx of sellers pushed the low-cost airline to end the session lower around $106.51, while establishing a $105.48 to $107.49 session range Friday.
The stock has been trending positively for about 2 months. Having set a significant low of $56.89 7 months ago, the low-cost airline is trading 88.63% higher.
Ryanair chart analysis: Ryanair Holdings plc could begin to recover as it approaches significant support, now $1 away from $105.5. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Ryanair's upper Bollinger Band® is at $108.56 which indicates a further downward move may follow.
Overall, while Ryanair has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
On the other hand, positive performances could be seen by looking at other industrials stocks as Lockheed Martin traded at $448.45 after closing Friday's trading day at $442.83 (up 1.27%). Boeing added 1.37% to its value, and traded at $203.63. General Electric traded at $102.74 after closing Friday's trading day at $101.52 (up 1.2%).
Upcoming fundamentals: as things stand, upcoming United States Consumer Confidence data is projected to fall short of market expectations with newly published data of 99, following on from the preceding figure of 101.3. New data is set to be published tomorrow at 14:00 UTC.
