Closing Bell Technical Review | Downbeat price action pushes Ryanair to explore further downside

• The CCI indicator has fallen below -100 – a bearish signal
• A crossing of the lower Bollinger Band® at $88.46 suggests further losses may follow for Ryanair.

Having fallen $5.78 in 7 days, Yesterday's session continued down the same path: during yesterday's session, Ryanair toiled and struggled for upward momentum before closing at $87.75. By the close, the the low-cost airline suffered a $3.76 or 4.11% loss.

On a negative trend for around a month. Having set a significant low of $56.89 5 months ago, the Irish low-cost carrier is trading 60.85% higher.

The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at $88.46 suggests further losses may follow for Ryanair.

Looking forward, Ryanair is poised to extend its strong downtrend and continue declining.

Upcoming fundamentals: United States Philadelphia Fed Manufacturing Index (Mar) scheduled to come out today at 12:30 UTC.