Ryanair's prevailing uptrend hits the buffers

• Price action honing in on likely support at $96.77
• Ryanair's upper Bollinger Band® is at $98.5 which indicates a further downward move may follow.

Though in the midst of a 7 day uptrend, gaining a total of 5.94%, ($6.36), The prevailing bullish trend is beginning to fade following today's downbeat session. The Irish low-cost carrier has recovered almost all of its session losses after dipping down to $96 today.

The stock has been trending positively for about 4 months. This year has been a bright one for the Irish low-cost carrier after trading as low as $56.89 and going on to appreciate by 30.52% year to date.

Ryanair Holdings plc made an initial break below its 3 day Simple Moving Average at $96.56, a possible indication of a forthcoming negative trend. Ryanair's upper Bollinger Band® is at $98.5 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 47 cents away from $96.77. 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 low-cost airline is expected to attract significant bearish sentiment in the coming days.

Fundamental indicators – United States API Weekly Crude Oil Stock released today at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million.

Ryanair was not the only decliner in the industrials sector; Caterpillar lost 3.09% today and closed at $246.14. United Parcel Service dips 1.74% today to close at $186.51. Boeing lost 1.89% today and closed at $207.92.

Upcoming fundamentals: United States Crude Oil Inventories projected to decline to -308,000 while previous data was 1.17 million; data will be released tomorrow at 15:30 UTC.