| 
June 23, 2023- Price action is gradually approaching a key resistance hurdle at $110.14
- Upper Bollinger Band® currently at $109.2
Ryanair has posted further gains as part of a 3 day trend that has already seen the stock gain $1.57. On-trend Ryanair closed the session yesterday with more of the same: the Irish low-cost carrier went up to $109.15, gaining 1.47%.
The stock has been trending positively for about 3 months. Over the past a day, the Irish low-cost carrier has retreated 1.45% from a noteworthy peak of $109.15.
Ryanair Holdings plc made an initial breakout above its 10 day Simple Moving Average at $107.31, a potential indicator of a newly emerging bullish phase. Despite this, Ryanair could be slowing down soon; it is getting close to the resistance line and is now at $110.14, only 99 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Bollinger Band® analysis indicates that current price action is approaching the upper band at $109.2, thereby suggesting that Ryanair is becoming overvalued.
According to technical analysis, it looks as if Ryanair likely to continue pointing upward in the short term.
Fundamental indicators – Crude Oil Inventories in United States fell short of market expectations (1.87 million) with a reading of -3.83 million, continuing the decline from the previous figure of 7.92 million.
While Ryanair was bullish yesterday, the following industrials stocks underperformed: Boeing lost 3.05% yesterday and closed at $205.61. Raytheon Technologies dips 2.17% yesterday to close at $99.07. United Parcel Service went down to $171.38, losing 1.3% after it closed at $173.63 yesterday.
Upcoming fundamentals: United States Services PMI is expected today at 13:45 UTC.
