Ryanair builds bearish momentum towards key support at $94.86

Ryanair builds bearish momentum towards key support at $94.86
  • Ryanair is eyeing $94.86 as its nearest support level
  • Fibonacci support at $95.04 holds firm with prices springing 55.144 cents

A tough session dominated by bearish sentiment left Ryanair $2.2 lower, while setting a $95 to $96.59 session range.

The stock has been trending positively for about a month. The Irish low-cost carrier is now trading 71.89% above the significant low ($56.89) it slumped to 6 months ago.

Ryanair Holdings plc's upper Bollinger Band® is at $98 which indicates a further downward move may follow. On the other hand, note that Ryanair could begin to recover as it approaches significant support, now 73 cents away from $94.86. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Ryanair to extend its recent losses.

Fundamental indicators – United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.

Ryanair was not the only decliner in the industrials sector; Raytheon Technologies closed at $97.16 (down 1.73%). United Parcel Service closed at $175.83 (down 1.13%). Lockheed Martin lost 1.27% yesterday and closed at $453.07.

Upcoming fundamentals: tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 236,000.

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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