Ryanair hones in on key resistance at $108.67

• Price action is gradually approaching a key resistance hurdle at $108.67
• The lower Bollinger Band® is currently at $102.67 while the higher band is at $110

Recent gains came after 13 days of trading sideways, Friday's session shows improvement: after closing at $106.96 on Thursday, Ryanair maintained a strong bullish bias that helped the stock close higher at $107.89 Friday. However, market bears ensured the the Irish low-cost carrier topped out at $108.16 and that by the end of the session, the market had marked out a distinct $106.09 to $108.16 range.

The stock has been trending positively for about 2 months. The Irish low-cost carrier now trading 23.2% above its 3-month low of $56.89.

Chart analysis indicates Ryanair Holdings plc could be slowing down soon as it approaches resistance at $108.67. Of course, crossing it might suggest further gains are ahead. With regards to technical trend indicators, chart analysis show that Ryanair made an initial breakout above its 10 day Simple Moving Average at $107.14, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Ryanair's upper Bollinger Band® is at $110, this is a slight indication of a slowdown.

All in all, the technical analysis suggests Ryanair has no clear-cut direction.

A look at other industrials stocks also showed bullish price action as Lockheed Martin gained 0.71%, as it traded at $459.17. General Electric added 0.83% to its value, and traded at $106.29.

While Ryanair was bullish Friday, the following industrials stocks underperformed: Caterpillar closed at $245.27 (down 0.97%).

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