Ryanair is eyeing $106.54 as its nearest support level
Ryanair's upper Bollinger Band® is at $110.13 which indicates a further downward move may follow.

Though in the midst of an 8 day uptrend, gaining a total of 2.26%, ($3.2), Yesterday's session suggests run might be coming to an end — an influx of sellers pushed the Irish low-cost carrier to session lows around $106.81 while establishing a $106.81 to $108.71 session range yesterday.

The stock has been trending positively for about 2 months. The low-cost airline is now trading 90.33% above the significant low ($56.89) it slumped to 7 months ago.

Ryanair Holdings plc made an initial break below its 5 day Simple Moving Average at $106.92, a possible indication of a forthcoming negative trend. A Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. Ryanair's upper Bollinger Band® is at $110.13 which indicates a further downward move may follow. In contrast, Ryanair could begin to recover as it approaches significant support, now 91 cents away from $106.54. 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 CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600.

Ryanair was not the only decliner in the industrials sector; United Parcel Service went down to $170.49, losing 0.58% after it closed at $171.48 yesterday. Union Pacific lost 0.66% yesterday and closed at $199.67. Deere & Company went down to $378.87, losing 0.5% after it closed at $380.77 yesterday.