Ryanair is eyeing the $91.83 support level
Price action is currently stuck around the active Fibonacci support level of $92.52

Though in the midst of a 5 day uptrend, gaining a total of 2.73%, ($3.62), The prevailing bullish trend is beginning to fade following yesterday's downbeat session. After closing the previous trading day at $94.12 and dropping to $92, the low-cost airline closed yesterday at $92.97. By the end of the session, Ryanair gave up a total of 1.22%.

Ryanair hit a significant low of $56.89 around 6 months ago, but has since recovered 65.44%.

Ryanair Holdings plc made an initial break below its 50 day Simple Moving Average at $93.03, a possible indication of a forthcoming negative trend. Ryanair is currently flirting with an active Fibonacci support level around $92.52. Ryanair's upper Bollinger Band® is at $95.66 which indicates a further downward move may follow. Despite this, Ryanair could begin to recover as it approaches significant support, now $1.14 away from $91.83. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ryanair to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Irish low-cost carrier is expected to attract significant bearish sentiment in the coming days.

Fundamental indicators – United States Crude Oil Inventories beat analyst expectations of -583,000 and the previous reading of -3.74 million with new data of 597,000.

Ryanair was not the only decliner in the industrials sector; United Parcel Service closed at $189.85 (down 1.35%).

On the other hand, positive performances could be seen by looking at other industrials stocks as Raytheon Technologies added 1.81% to its value, and traded at $101.52. Deere & Company traded at $384.39 after closing yesterday's trading day at $380.83 (up 0.93%).

Upcoming fundamentals: United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released today at 12:30 UTC.