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March 12, 2023
- Next support is currently $1.15 away at $89.55
- Falling prices have precipitated Ryanair's approach to its lower Bollinger Band® at $89.59
Over the last 6 days, Ryanair has fallen 6.77%. More of the same from Friday's session: pronounced bearish sentiment in the market pushed the Irish low-cost carrier into a notable 2.14% slide Friday, falling $2 and ultimately closing at $90.7.
The stock has been trending positively for about 4 months. Ryanair hit a significant low of $56.89 around 4 months ago, but has since recovered 62.91%.
With regards to technical trend indicators, chart analysis show that Ryanair Holdings plc made an initial break below its 50 day Simple Moving Average at $90.96, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Ryanair's lower Bollinger Band® is at $89.59, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Ryanair's notable support and resistance levels: Ryanair could begin to recover as it approaches significant support, now $1.15 away from $89.55. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Ryanair has no clear-cut direction.
Ryanair was not the only decliner in the industrials sector; Caterpillar went down to $227, losing 5.79% after it closed at $240.96 Friday. Deere & Company plunges 6.05% Friday to close at $421.42. Union Pacific slides down 1.76% Friday to close at $199.57.
