Ryanair wasn't trading below $104 for 3 weeks.
Lower Bollinger Band® at around $103.75

Ryanair's bearish run has lasted 3 days so far (-$4.47). Yesterday's session continued the recent downtrend: grinding lower but with no clear-cut direction, the Irish low-cost carrier closed the session at $103.81 after forming a distinct $103.55 – $105.57 range.

The stock has been trending positively for about 3 months. The low-cost airline is now trading 4.1% below the significant high of $109.15 it set around 5 days ago.

Technical analysis shows that Ryanair Holdings plc could begin to recover as it approaches significant support, now 77 cents away from $103.04. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, 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. Asset volatility analysis shows that Ryanair's lower Bollinger Band® is at $103.75, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests Ryanair is likely to remain muted for the immediate future, with no clear-cut direction.

Fundamental indicators – United States 2-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.67, while the previous figure was 4.3.

Ryanair was not the only decliner in the industrials sector; Lockheed Martin lost 1.43% yesterday and closed at $452.8.

On the other hand, positive performances could be seen by looking at other industrials stocks as United Parcel Service traded at $172.75 after closing yesterday's trading day at $169.29 (up 2.04%). Honeywell International traded at $202.58 after closing yesterday's trading day at $200.09 (up 1.24%).

Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million. It previously stood at -3.83 million; data will be released tomorrow at 14:30 UTC.